- Japan, South Korea, and China are increasing the pace of stockpiling on natural gas ahead of the winter with inventory levels above the five-year average as the biggest energy importers in North Asia look to avoid buying LNG on the spot market during the winter.
- Japan and South Korea have also called for energy conservation to avoid shortages this winter, while gas demand in China is set for its first annual drop in at least two decades this year, due to the sporadic Covid lockdowns across the country.
- Weakening gas demand, increased domestic gas production, policies to support coal as the “energy security” tool, and of course, the much higher spot LNG prices this year have all combined to reduce Chinese purchases of LNG so far in 2022.
Asian Natural Gas Importers Race To Stock Up Ahead Of Winter
