Got that. But 17 to 21 is a big gulf to cross. I could see if it was sitting 19/20

---

My understanding is that revenues are much much higher than that for JKM. But also as vast amount of the LNG market use brent crude percentages for their pricing so they trade LNG as 10-16% of the value of brent crude. Traders also trade Platts as well which is pipeline gas in europe as no physically delivered LNG contract existed until Abaxx. Having a liquid physically delivered contract is superior for risk management and would vacuum up the JKM liquidity but also the liquidity from platts and brent crude. Remember utilities companies relying on LNG are effectively short the LNG market. Trading a financially settled contract is unacceptable for this or even some ratio of crude oil. They need LNG, not oil. Which is why Abaxx has already 2 prs with chinese local governments to work together on making Abaxx LNG contracts benchmark. But remember JKM is only Asia, Abaxx also as Gulf of Mexico supply contract offering more capabilities for traders to buy Gulf LNG and sell into Asia or europe. Abaxx has 3 LNG contracts, JKM is just one. At the same time they are working with Minehub to support having those LNG shipments which take a month or more to be used as collateral on their exchange significantly improving clearing efficiencies and lowering cost. LNG is becoming one of the most important energy contracts and soon on pair with brent. Abaxx will have 3.

---

Gulf of America 🇺🇸 🫡

---