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Global gas prices drop to spur demand
Asian LNG demand continued its “year-on-year” recovery in December, driven by lower global gas prices, although it still fell short of the levels observed in 2021. Throughout 2023, China & South Asia recovered around 50% of the demand drop of the year before, while SE Asia continued its structural demand growth. Japanese & Korean demand however continues to head in the opposite direction as a combination of reduced overall electricity demand, lower industrial consumption, and the return of nuclear plants have stymied gas demand. 2024 so far has seen global gas prices continue their downwards trajectory, with JKM ... (full story)