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Understanding gas pricing mechanisms: implications for the Asian market

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dc.contributor.authorCai, Y.
dc.contributor.authorWu, Y.
dc.date.issued2021
dc.description.abstractThis article aims to understand the gas-pricing mechanisms in the world's major markets and hence draw implications for gas-pricing reform in Asia. It adopts a newly proposed time-varying Granger causality test to investigate the connection between crude oil and natural gas prices. The empirical results suggest the necessity to establish gas trading hubs and hence adopt hub-based pricing in Asia and Europe so that gas pricing can fully reflect the fundamentals in gas markets and help achieve more efficient gas allocation. The resultant growth in gas consumption and potential replacement of dirtier fuels such as coal and oil is important for emission reduction and hence climate change action in the world, particularly in Asia, the world's most dynamic region.
dc.identifier.citationAustralasian Journal of Environmental Management, 2021; 28(4):373-390
dc.identifier.doi10.1080/14486563.2021.1979111
dc.identifier.issn1448-6563
dc.identifier.issn2159-5356
dc.identifier.urihttps://hdl.handle.net/11541.2/40253
dc.language.isoen
dc.publisherTaylor & Francis
dc.relation.fundingAustralian Government Research Training Program (RTP) scholarship
dc.rightsCopyright 2021 Environment Institute of Australia and New Zealand
dc.source.urihttps://doi.org/10.1080/14486563.2021.1979111
dc.subjectnatural gas pricing
dc.subjectoil indexation
dc.subjecttime-varying granger causality test
dc.subjectrolling window technique
dc.subjectasia
dc.titleUnderstanding gas pricing mechanisms: implications for the Asian market
dc.typeJournal article
pubs.publication-statusPublished
ror.mmsid9916905226201831

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