July 30, 2019 / 2:23 AM / 4 months ago

Singapore to discontinue production of 'Sling' LNG price indices

SINGAPORE, July 30 (Reuters) - Singapore’s Energy Market Company (EMC) will stop producing and publishing price indices for liquefied natural gas (LNG) in the city-state known as ‘Sling’, the company said in an undated statement on its website.

EMC said Sling - short for SGX LNG Index Group - indices will be published until Oct. 31, this year, provided “there is sufficient data for an accurate and robust index to be published”.

Sling was developed jointly by EMC, an exchange for wholesale electricity trading, and Singapore Exchange (SGX) , and introduced in 2015 in a bid to develop Singapore as a price hub for the super-chilled fuel. EMC is a wholly owned unit of Asian Gateway Investments, which itself is a SGX subsidiary.

EMC and SGX did not immediately reply to Reuters’ requests for comment on the matter.

Reporting by Jessica Jaganathan Editing by Kenneth Maxwell

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