Asia Pacific: Trade
A warm summer could support Northeast Asia’s LNG imports.
Northeast Asian LNG imports are expected to receive support from increased seasonal demand. Above-average temperatures are forecast in Japan over the summer, while in South Korea temperatures are expected to be largely around average. As last summer was relatively mild, a hotter-than-average summer will support demand growth. In Japan, increases in weather-related air conditioning demand are likely to be enough to result in total consumption rising on an annual basis over the coming months. In South Korea, close to average temperatures could still prove hotter than last year’s, and could ease declines in consumption and imports. This will support growth in total LNG imports in the region over the summer.