Directional impact on forecast:
Bullish for Asian Spot LNG Prices
Warmer-than-average summers are forecast for both Japan and South Korea this year. Hot summer temperatures will boost demand for air conditioning, pushing up electricity demand. This will also support requirements for gas-fired power generation and total gas consumption.
Japan’s meteorological agency published its summer forecast last week, giving a 50% chance of above-average temperatures across the country between June and August. In South Korea, the meteorological administration’s forecast ranges from a 40% to at least...