Asia’s record gas prices underline the need to make its markets more resilient
Asia’s price volatility is nothing but a reflection of their relative lack of gas storage. Europe and North America have both very deep gas storage in place that can pump massive amounts of extra gas into the market when this is needed. This keeps price peaks in check. Asia’s topography is not very suitable for underground storage and storing LNG is neither simple nor cheap. Their only way out is over contracting and having a dumping place for the extra gas they don’t need when they don’t need it. And only Europe can offer that – for a fee.
IEA 
