Asia Pacific: Storage

November 2016

South Korea’s low stocks at the end of summer have supported spot purchases ahead of winter.

South Korea ended the summer with relatively low levels of gas in storage. At the start of September, South Korea’s stocks were down by 41% year on year, with just 1.8 bcm of gas in storage. South Korea has been seeking additional cargoes to supply gas for storage rebuilds and has been active on the spot market. In contrast, Japan started September with around 5.8 bcm of gas in stock, an increase of 9% year on year.