Strategic natural gas reserve
After the 2021–2023 global energy crisis, there has been several countries in East Asia and India that have signaled a commitment to building national strategic natural gas reserves such as Japan, Taiwan, South Korea, and China.
[1] East Asia natural gas commodities tracker is the PLATTS index, and reached as high as $70 per million British thermal units in 2022 during the Russian invasion of Ukraine during the Second Cold War.
Japan is the world's largest importer of LNG and plans to work with the International Energy Agency to help establish and coordinate a strategic natural gas reserve.
It keeps nine days worth of winter usage in strategic storage along with an undisclosed amount of commercial stockpile.
Depleted gas or oil fields are the cheapest to commission, as they take advantage of existing wells, internal distribution systems, and pipeline connections.
* Russia cut the flow of natural gas by more than half in June 2022 because they alleged they could not get a part seized by the Canadian government because of sanctions. Siemens , the producer of the part, denied that this piece was critical for operations. [ 6 ]
* Russia halted gas flows on 11 July 2022 for annual maintenance for 10 days and resumed partial operations on 21 July. [ 7 ]
* Russia stopped the flow of natural gas on 31 August 2022 for alleged maintenance for 3 days, but later said they could not provide a timeframe for restarting gas flow. The EU accused Russia of fabricating a false story to justify the cut. [ 8 ]
X Pipeline was sabotaged on 26 September 2022.