Northeast Asia has been hit by a mid-winter energy crisis as an extended period of much lower than normal temperatures across the region has strained supplies of coal, gas and electricity to breaking point. China has been forced to restrict power in multiple provinces, Japan has appealed for voluntary restraint, and liquefied natural gas (LNG) prices have hit record highs as generators and utilities scramble for spot cargoes. While freezing temperatures triggered the crisis, they have also exposed an underlying lack of resilience in regional energy systems caused by the rapid transition to gas for space heating and power generation. Japan has failed to restart or replace nuclear generation a decade […]