Natural gas is expected to play a bridging role in the progress towards a carbon-neutral world. East Asia faces many policy issues when changing its natural gas pricing mechanism from the predominant oil indexation to flexible hub (spot) indexation. Selected key questions include whether the transition is desirable, how to implement the transition, and the consequences of the financialization of natural gas. The gas industry and policymakers often require an answer to these issues. Since East Asia accounts for one-quarter of global gas demand and more than 50% of the global LNG trade, the topic is important for the world energy sector as well. This presentation will explain the motivations, challenges in the pricing transition, and academic studies of selected policy issues pertaining to the transition. In addition to their academic contributions, these studies will inform the policy community on the necessity, key implementation steps, and possible consequences of the pricing transition.