This study provides a literature review of academic research related to liquefied natural gas (LNG) hubs development and market integration. Studies show that Asian markets lack a transparent pricing benchmark which exists in North American and European markets. As a result, the formation of functional LNG market hubs in the Asia Pacific region will take time. Early research evidence suggests a strongly cointegrated relationship between LNG and crude oil. Concurring with more recent findings, we confirm that LNG's statistical relationship to both WTI and Brent ceases after the break dates of August 2008 and October 2015, respectively. Multiple initiatives are underway to facilitate development and price discovery for global LNG markets. However, the conclusions found within prior literature are dependent upon the sophistication of the estimation model and sample ranges employed.

本研究提供了液化天然气相关学术研究的文献综述（液化天然气）中心开发和市场整合。研究表明，亚洲市场缺乏北美和欧洲市场存在的透明定价基准。因此，亚太地区功能性液化天然气市场中心的形成需要时间。早期研究证据表明液化天然气和原油之间存在很强的协整关系。与最近的调查结果一致，我们确认液化天然气与 WTI 和布伦特原油的统计关系分别在 2008 年 8 月和 2015 年 10 月的中断日期之后终止。多项举措正在进行中，以促进全球液化天然气市场的开发和价格发现。然而，先前文献中得出的结论取决于估计模型的复杂程度和所采用的样本范围。