Steel News

We strive to let you one step ahead of the market.

Japan & South Korea facing natural gas supply difficulties due to decreased supply

12 Aug 2022 16:49 reported by Huda Chen

A A A
Japan and South Korea are facing supply difficulties of natural gas due to the decreased supply. Asian gas prices are surging sharply in response to strong demand from European countries.

Both Japan and South Korea are countries that are highly dependent on energy imports. In order to meet the demand for gas in winter, Japan and South Korea will have gas replenishment actions after entering the third quarter in previous years. However, Japan and South Korea had previously announced the transfer of some LNG to aid the EU in March and April this year, respectively. As a result, Japan and South Korea’s LNG imports in the first half of 2022 fell by 1% and 3% year on year.

As Europe has imposed comprehensive sanctions on Russian energy and greatly reduced its purchases of Russian natural gas, a shortage of natural gas supply in the market is inevitable.

Back to Steel News

Related News

Toyota’s global vehicle output increases in Aug & Jan-Aug

  • Others
  • 3 Oct 2022 14:35

Shipping prices pulling back

  • Others
  • 29 Sep 2022 16:46

Optimistic outlook of global freight market may finish

  • Others
  • 1 Sep 2022 16:51

EU car production expected to fall in 2022, rebound in 2023

  • Others
  • 29 Aug 2022 16:28

Taiwan’s screw exports increase in Jan-Jul y-o-y, high costs support prices in short term

  • Others
  • 26 Aug 2022 17:15

Metal Price Index

Learn more

LME Official Bid Price

  • Zinc
  • 3,026.00
  • 2,999.00
  • Aluminum
  • 2,288.00
  • 2,297.00
  • Copper
  • 7,660.00
  • 7,605.00
  • Nickel
  • 22,225.00
  • 22,200.00

Learn more

Coil Exchange Center

  • 2B Coil-Nov
  • 3,180
  • 3,040
  • NO1 Coil-Nov
  • 3,150
  • 3,010
  • 2B Coil-Nov
  • 3,180
  • 3,040
  • NO1 Coil-Nov
  • 3,150
  • 3,010

Learn more