Asia Pacific Storage

Storage builds are under way in Northeast Asia.

South Korea’s storage volumes were down by around 34% on an annual basis at the peak of winter. Additional drawdowns on stocks during the latter part of the season are estimated to have left stocks low. Japanese storage levels were around 3% above the average for the past three years at the peak of winter. In China, higher levels of injections into storage facilities will further boost requirements for gas during the summer. China National Petroleum Corp. is...