Weather-related heating requirements are pushing up Q4 gas demand in Northeast Asia.
GGA anticipates gas demand in Northeast Asia will rise by around 5% on an annual basis in Q4, led by consumption growth in China. A cold snap hit much of Northeast Asia during the first half of November, which forced up heating-related gas use. However, Japan and South Korea are forecast to experience largely average temperatures in late November and early December. This will moderate the upside for further heating-related demand growth.
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