Among the report’s key findings and recommendations are the following:
- Current market structures discourage gas consumption and impact Asian competitiveness vis-à-vis more flexible markets in the US and even Europe;
- OECD experience suggests that the single biggest obstacle for an effective gas market is a lack of infrastructure access;
- The role of governments must change: Instead of focusing on price regulation along the value chain, governments must maintain and supervise competitive market conditions;
- Credible state commitment to regional gas market competition can instill confidence, encourage new market participants, and promote the use of transparent hubs to balance producer portfolios;
- Transport and commercial activities should be separated and prices deregulated at the wholesale level;
- Singapore holds the best initial prospects for gas hub development, with Japan, Korea, and China as likely competitors in the future.