India May Peg Local Gas Price to Asia LNG
What does JKM have to do with the market realities in India? JKM is not even a traded price but rather a figment of imagination establishing an artifice between imports to Japan, South Korea, and China. And none of them has traded gas hubs. But if anything, they reflect East Asian reality. Certainly not an Indian one. Why can’t India establish a median oil and coal import price and use that as the variable for the formula and then they just apply the P0 explorers are good with. Those are the competing energy forms in the Indian market – not some artifice traders like thousands of miles away.
