LNG

US-Israeli air strikes against Iran has exposed Asia’s vulnerability to imported LNG and the lack of energy self-sufficiency through domestically generated clean energy. China, India, Japan and South Korea account for 75% of oil and 59% of LNG flows through the chokepoint.

A flurry of LNG regas terminals has sprung up in China, mostly used for importing spot cargoes, but analysts see a trend towards medium-term contracts as "buyers need to sign new LNG contracts for delivery in the early 2020s, if not sooner."