Big freeze exposes Asia’s underlying energy crisis

This cold snap is the most impressive sign that Asian LNG markets need Europe – especially North-Western Europe with its many terminals, its deep markets, its hubs, and its pipeline gas. Asia has little to no storage capacity so when cold hits them, they need a lot more LNG very quickly. Having a market that can release its contracted cargos for a price saves their day. And Europe can make some money in the process. Hail the new market maker for LNG. If only Europe stood up to the challenge/opportunity.

Column: Big freeze exposes Asia's underlying energy crisi - Kemp

Northeast Asia has been hit by a midwinter energy crisis as an extended period of much lower than normal temperatures across the region has strained supplies of coal, gas and electricity to breaking point.

Reuters