Russia's war in Ukraine is making the heat wave in Asia even deadlier. Here's how
, and smaller economies like Pakistan have been priced out of the LNG market altogether, resulting in energy shortages and eventual blackouts amid the heat wave.
While the spot price of LNG in Asia has come down from its peaks, the damage has already been done. Having experienced such a wild price swing has reduced the appetite for LNG in many developing markets, which have now come to see it as an unreliable fuel. These countries now feel uncertain to continue “with expanding their use of natural gas due to this kind of volatility of prices,” says Purwanto.
As in Karnataka, the heat wave-induced spike has brought coal back into the center of the energy mix as talks of phasing out dirty fuel recede and focus shifts to surviving the heat. It’s happened before: a scorching heat wave and drought last year causedto increase its coal power generation. The country, bracing to bear the brunt of Asia’s heat wave this coming summer, is not discounting the possibility of increasing coal energy use again.
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