World natural gas markets are becoming interrelated as countries rely more heavily on global, waterborne supplies as a supplement to conventional supply.
The Fukishima disaster of 2011 crippled Japan’s nuclear program and pushed imports of natural gas to record levels. A drought in Brazil caused hydroelectric output to plummet earlier this year and Brazil was forced to pay upwards of $18/mmBtu for spot cargos of LNG. North America continues to be the largest demand market for gas in the world at approximately 27% of total.
The fastest growing region is Asia, with China, Japan and South Korea experiencing…
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