The market is looking at the winter heating season to help support LNG spot prices after the benchmark JKM fell close to historic lows in 2019, reports Platts.
Winter sees higher demand for LNG
While LNG demand in Northeast Asia is expected to pick up with cooler temperatures, S&P Global Platts LNG Analytics Manager in Asia Jeffrey Moore says another important aspect to watch will be storage levels in the region.
Both Japan and South Korea are expected to enter the winter with higher than normal storage stocks, which could limit spot procurement needs in the coming months.
Meanwhile, China has built new infrastructure to help meet their increasingly seasonal demand.
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Source: Platts
