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North Asia early into the winter, around the power plant is fully operational to support the power generation needs of coal, natural gas and oil prices.
Commodity analysts blamed the cold wave on La Ni?a. Weather forecasts show temperatures in Seoul and Beijing will fall below historical levels and continue until the end of the year, and the weather in many parts of Japan is colder than usual.
This means an increase in electricity demand, due to increased heating at home and in the office. Power plants will therefore use coal, natural gas and oil inventories and increase imports.
Over the past five months, coal prices in Asia have doubled, boosted by winter demand and domestic production restrictions.
This has also prompted refineries to increase the production of refined oil such as kerosene, kerosene in Japan and other places are widely used for heating. By this factor, the past one and a half Asian oil refining profit margin jumped 54%.
"La Ni?a replaced El Ni?o, which means winter will be colder than expected, and not just this year, nor in the next two years," said Gordon Kwan, head of Asian oil and gas research at Nomura Holdings (8604.T).
"We believe prices of fossil fuels such as coal, oil, and natural gas are likely to rise further due to strong demand (among other factors)," he said.
**natural gas**
Demand in winter has boosted the price of liquefied natural gas in Asia to its highest level in a year.
China National Petroleum Corporation said this week that it plans to increase LNG imports by 54% year on year and access to inventory, the total supply of natural gas this winter than the same period last year increased by 9.5%.
China National Petroleum Corporation said that this will help meet the Beijing demand for natural gas growth. According to statistics, the heating quarter temperature for each lower one degree Celsius, Beijing daily gas consumption increased by about 300 million cubic meters.
"From a price point of view, the liquefied natural gas short-term situation is quite good," commodity consulting firm Wood Mackenzie's China research director Gavin Thompson said.
"We expect stronger growth in prices over the next three months compared to spring and summer coal and gas prices," he said.
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