South-East Asia heat breaches records as Myanmar and Cambodia suffer major heatwave; prompts gas buying in big numbers
YANGON/PHNOM PENH (Bloomberg) South-East Asia’s severe heat wave is pushing temperatures and power demand to new records, straining grids and prompting traders in the region to bulk up on natural gas cargoes.

Myanmar and Cambodia have seen their countries hitting record temperatures and they have alerted all schools not to have any outdoor activities or even educational trips.

More than three dozen districts across Thailand’s 77 provinces have seen record temperatures in April, generally the hottest month of the year, with new highs beating records held as far back as 1958, according to data from the Thai Meteorological Department.

In the Philippines, temperatures reached a record of 38.8C (101.8F) in the capital Manila on Saturday and have since been even higher in other areas of the main Luzon island, according to the nation’s weather forecaster. New warnings were issued Tuesday over potential disruption to electricity supplies amid extra demand.

"Our consumption has suddenly increased because it’s very hot,” President Ferdinand Marcos Jr. told reporters on Monday, saying the cooling demand is overloading power systems.

Thailand’s power usage surged to another record of 36,699 megawatts on Monday amid soaring temperatures, according to data on the state energy regulator’s website. That was the third time demand hit a new peak in about a week.

"If we see a repeat of last year, it is likely that Thailand’s hydropower generation will plummet when temperatures begin to rise, leading the country to burn more gas for power as well as ramp up imports from Laos,” said Rystad Energy analyst Tristan Pheh.

The country’s state-owned energy company, PTT, purchased a prompt delivery shipment of liquefied natural gas to help feed the surging power demand, according to traders with knowledge of the matter. PTT is considering buying more LNG, which is used primarily for power generation, the traders said.

Heatwaves in Vietnam are likely to cause power shortages, boosting coal needs, according to Rystad. PetroVietnam Gas is also looking to procure a late-May delivery LNG shipment to avoid a shortfall, traders said.

In Myanmar, the region’s poorest economy, outages have already worsened in cities including Yangon, with many townships only seeing a few hours of electricity in recent days.

Thailand’s weather bureau advised people to avoid lengthy outdoor activities with maximum temperatures in most regions expected to top 40C on Tuesday. The health ministry said last week heat-related deaths have risen to about 30 nationwide this year.

The northern province of Lampang has seen the highest temperature so far this year at 44.2C, just shy of the highest temperature ever recorded in Thailand - 44.6C - last seen in 2016 and 2023.

The office of the nation’s Islam spiritual leader prompted followers to pray for rain this weekend, local media reported. Wat Pho, one of the most well-known Buddhist temples, started sprinkling water on its compound to give tourists relief from the weather.

The Philippines heat index, which takes into account humidity and measures the temperature felt by individuals, hit a high of 53C on Sunday, according to the nation’s weather forecaster, indicating incidents of heat strokes were imminent. -- ©2024 Bloomberg L.P.
South-East Asia,Myanmar,Philippines,Thailand,Heatwave,Big Buys on Gas
South-East Asia’s severe heat wave is pushing temperatures and power demand to new records, straining grids and prompting traders in the region to bulk up on natural gas cargoes.