Demand, price spikes seen in Northeast Asia, US in Q1 Security of gas supply ‘never out of season’ ‘Time will tell’ if events lead to policy shifts Extreme weather in Northeast Asia and North America in the first quarter of 2021 — and the resulting gas demand and price spikes — were reminders that gas supply security “should not be taken for granted”, the International Energy Agency. Receive daily email alerts, subscriber notes & personalize your experience. Register Now The cold weather — first in Northeast Asia in January and then in the southern US in February — was a “useful reminder” that winters can be cold and that gas demand is particularly temperature-sensitive, the IEA said in its latest quarterly gas market report on April 15. “Time will tell whether the cold snaps of winter 2020/21 will have an influence on market design and regulatory policy decisions. […]