Asia laps up cheap LNG as '2023 problem' looms

Market watchers expect a price rebound around that year

20170904_cheapLNG

An LNG tanker moored east of Tokyo: Japan is the world's No. 1 importer of the fuel.

YASUO TAKEUCHI, Nikkei staff writer

TOKYO -- As prices of liquefied natural gas fall, imports of the fuel are rising. And no region is thirstier than Asia, which accounts for 70% of global LNG demand. Yet even as the region reaps the benefits of the trend -- supply stability, for one -- there is concern that the supply-demand balance might tighten once again.

Some refer to this fear as the "2023 problem."

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