Teething troubles: EU LNG benchmark fails to excite despite noble intentions

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The growing role of LNG in Europe’s security of energy supply has prompted ACER, the body that works on integrating the EU’s power and gas markets, to launch an LNG price benchmark. Its aim is to increase transparency and prevent price spikes caused in part by EU countries outbidding each other to secure LNG supplies. However, industry sources question this new instrument’s efficacy due to a lack of sufficient data – not to mention the strong link between the LNG market and destination hub prices, and ever-forceful global supply and demand drivers.

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