When natural gas became as cheap as coal in the U.S., it spawned an energy transformation. Now, East Asia’s biggest economies are going through the same upheaval.
Natural gas in East Asia costs about the same as coal for the first time, a milestone that is likely to accelerate the region’s U.S.-style energy transformation.
Even before the new coronavirus rocked markets, governments in South Korea, Taiwan, and China were pivoting to cleaner-burning natural gas. Since February, the pandemic has pushed the price of liquefied natural gas to record lows, enabling them to move faster.
Last updated on Sun., April 19, 2020.