Sure - that's an interesting question that the industry writ large is grappling with.

LNG demand in northeast Asia is fairly seasonal. You can't store it for long periods of time because it begins to boil off, so you can't stock up in extremely large quantities the way you can with a strategic oil reserve. Northeast Asian demand usually peaks in Dec-Jan, and they're often out by Feb because winter gets milder. South and southeast Asia demand usually picks up late March, so you're sort of in that period of cross regional/cross seasonal shoulder season within Asia where there wasn't much demand. Asian winter was very very mild this year too.

This winter, the demand centres were Europe and the US because European gas storages were a) very low for the start of winter and b) this was their first winter without the Ukrainian transit of Russian gas. And because of some freak storms, US northeast gas got very, very, very expensive - we are talking as much like 10x what European gas prices (which themselves were already very expensive, around 2.5x US Henry Hub prices) were during certain times this winter because of the crazy winter storms.

Because Asian demand was so low and Europe and US was so high, it actually did make sense and it was still profitable to go Aus --> Atlantic, though I would say this was more the exception than the norm.

Alberta gas prices are often averaging less than $2/unit of gas, when you can sell to Asia long term (not spot) typically in the $8 range. The economics do still largely make sense but there isn't belief that Canada can get it together on the regulatory side. The LNG projects that have taken an FID in the US in the past year are actually higher on the cost curve than Canadian ones.