Asia Pacific: Storage
Gas storage levels in South Korea are low, a situation that will continue through the peak of winter.
South Korea’s gas storage levels were down by around 44% on an annual basis before the peak winter demand period, and were 42% below the average for the past three years. The need for additional gas has resulted in South Korea buying more spot LNG cargoes, including supplies from the US. This will buoy up the country’s demand for LNG.