Asia Pacific: Storage

South Korea’s efforts to build storage levels have boosted spot LNG requirements, but the need for storage volumes has now largely been met.

South Korea had around 2 billion cubic metres of gas in stock at the start of October, down by 49% year on year. The country’s push to rebuild storage volumes saw Kogas buy additional cargoes on the spot market. However, the requirement for pre-winter stocks has now been met, with any further need for additional LNG volumes likely to be driven by other sources – such as heating-related demand. Japan had around 5 bcm of gas in storage at the start of October, down by around 3% year on year. 

Log in or register for a free trial to continue reading this article

Already a subscriber?

If you already have a subscription, sign in to continue reading this article.

Sign in

Not a subscriber?

To access our premium content, you or your organisation must have a paid subscription. Sign up for free trial access to demo this service. Alternatively, please call +44 (0)20 3004 6203 and one of our representatives would be happy to walk you through the service.

Sign up