Asia Hikes Coal Use as Middle East War Chokes Gas Supply

Asian countries have been criticized for years for not ditching coal fast enough. They were vindicated this month when the Middle East war cut off 20% of global LNG flows overnight after Qatar, Asia’s key term LNG supplier, shut in production and exports. China, India, South Korea, Japan, and the whole of Southeast and South Asia are using the coal buffers they have created in recent years. Their insistence that diversification and energy security are more important than headline emission reductions is paying off as spot LNG prices in Asia…