Asian countries spend big on fuel oil amid global gas shortage concerns

Asia is stocking up on dirty fuel oil for winter power generation earlier than usual as a gas shortage sees environmental concerns take a back seat to making sure the lights remain on.

Japanese imports of the fuel, which can be used instead of natural gas to produce electricity, surged to a four-year high in August, and are set to stay high in the coming months, according to Vortexa Ltd. Taiwanese and Bangladeshi purchases last month were more than double a year earlier, the energy intelligence firm said.

Fuel oil, most commonly used to power ships, is a perennial fallback