Asia Pacific: Consumption
Growth in demand in China and South Korea is anticipated to be seen in Q4, which will help drive up total consumption in Northeast Asia.
South Korea’s gas demand is expected to rise on an annual basis over the coming months. South Korean demand rose by around 1% year on year during the first half of 2017, partly as a result of increased use of gas in the power sector. Robust gains were seen at the start of H2, when consumption rose by 6.9% on an annual basis in July. With average temperatures likely to dominate in Q4, weather-related support for gas in heating is likely to be weak, which will hit overall consumption in the second half of the year. However, South Korea’s total gas demand is still expected to grow by around 2% on an annual basis in H2 2017.