Japan and South Korea promise little immediate LNG market relief
East Asia’s power sector use may be poised to shrink from 2023, but demand for the fuel is expected to remain strong this year
LNG demand in Japan and South Korea—respectively the world’s largest and third-largest importers—will remain robust for the rest of 2022, offering little short-term respite to a global LNG market constricted by current and potentially future reductions in Russian output and other supply niggles. But imports could begin to slide next year, as greater nuclear availability and coal combustion combine to reduce gas’ role in the power mix. Unseasonably hot weather in the two countries this summer has supported peak power demand—including from gas-fired power generation—as households and offices crank up their air conditioning. Japanese LNG imports reached 37.54mn t in the first half of 2022, admi
![](/images/white-fade.png)
Also in this section
26 July 2024
Oil majors play it safe amid unfavourable terms in latest oil and gas licensing bid rounds allowing Chinese low-ball moves
25 July 2024
Despite huge efforts by India’s government to accelerate crude production, India’s dependency shows no sign of easing
24 July 2024
Diesel and jet fuel supplies face a timebomb in just four years, and even gasoline may not be immune
23 July 2024
Rosneft’s Arctic megaproject is happening despite sanctions, a lack of foreign investment and OPEC+ restrictions. But it will take a long time for its colossal potential to be realised