Argus, a global energy and commodity price reporting agency, has recently launched the Argus Japan Korea Low-Carbon Ammonia Benchmark (JKLAB) index to facilitate trading of blue hydrogen-based projects in Asian markets. This index focuses on the all-in-cost of liquid ammonia produced on the US Gulf Coast and transported to northeast Asian countries. Unlike traditional spot price assessments, the JKLAB index is tailored to assist in offtake negotiations, providing a stable benchmark for buyers and producers to structure long-term supply contracts. In response to this development, power generation companies in Northeast Asia are diversifying their fuel sources by trialling ammonia. They plan to implement commercial co-firing of ammonia with coal, starting at 20%, and gradually increasing blending test rates to 50%. This shift towards ammonia usage aligns with the region's commitment to reducing greenhouse gas emissions and embracing innovative solutions in the hydrogen economy. The JKLAB index is anticipated to offer buyers in Japan and South Korea, as well as US producers, a common reference point, thereby simplifying the process of negotiating offtake agreements and managing input cost volatility. By providing a clear market signal and a single instrument for pricing long-term contracts, the index aims to reduce reliance on complex pricing mechanisms related to natural gas, power, and other commodities. Overall, the launch of the JKLAB index signifies a positive development in the hydrogen market, promoting collaboration among market participants to drive sustainable practices and address environmental concerns. The initiative by Argus is poised to contribute to the growth of blue hydrogen projects and the transition towards more eco-friendly energy solutions in the Asian region.