Strong demand growth at the start of the year will support market expansion in China and Taiwan, while consumption in Japan and South Korea will continue to decline.
Following strong demand growth at the end of last year, China saw its gas consumption rise by 18% in January to 22 bcm. As anticipated, the colder temperatures that pushed up demand and created regional gas shortages in December and January helped support increased demand growth at a national level. Temperatures in February were largely around average in much of the country, and while some colder spells are forecast in March, the weather is unlikely to drive increased gas consumption over the coming month.
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