As the injection season approaches, storage will add little upside to the import requirements of Japan and South Korea.
Japan had around 6 bcm of gas in storage at the start of January, and net withdrawals are understood to have been limited during the peak of winter. South Korea had around 4 bcm of gas in storage at the start of 2016, around 24% higher than the average over the previous three years. Drawdowns on storage are not anticipated to have been strong over the peak winter months, and the country should enter the spring with healthy levels of gas in stock.
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