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2018-02-07 07:50:00

JAPAN'S LNG MAXIMUM

JAPAN'S LNG MAXIMUM

REUTERS - Japanese imports of liquefied natural gas (LNG) hit their highest in at least five years in January, with shipments expected to continue at a brisk pace this month as freezing weather keeps its grip on the world's top buyer of the fuel.

Japan's imports of LNG rose to nearly 8.7 million tonnes last month, up 8 percent from December and the largest volume since at least January, 2013, according to ship tracking data on Thomson Reuters Eikon that stretches back five years.

That upturn is piling further pressure on the region's spot markets for the commodity, which marked three-year highs last month as China rushed to snap up cargoes for its drive to use gas to heat millions of homes and power thousands of factories.

"A recent cold snap contributed to LNG demand for power (in Japan) as well as in city gas sector," said Boseok Jin, a research analyst at IHS Markit.

Unusually frigid conditions swept parts of Japan in January, with snow blanketing Tokyo at one point later in the month.

Jin added that volumes of LNG delivered to the Nagoya area in central Japan surged by 10 percent in the November to January period compared with the same time a year before, while deliveries into Tokyo Bay increased by more than 4 percent.

"We were all caught by surprise with the cold weather and (LNG) inventory is very low now," said a source with a Japanese utility, declining to be named as he was not authorized to speak with media.

Four months of maintenance at a nuclear reactor run by Kyushu Electric Power Co could also be boosting demand for LNG, the source said.

And at least one utility is rushing to find a cargo for the second-half of February, the sources said, with cold conditions forecast to continue this month.

But demand for LNG could fade as the weather heats up with spring's arrival in March and as some nuclear reactors are due to restart around the same time, said IHS Markit's Jin.

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Earlier:

JAPAN'S LPG UP TWICE
2017, December, 22, 22:05:00

JAPAN'S LPG UP TWICE

REUTERS - Japan’s liquefied petroleum gas (LPG) imports from the United States are expected to double in 2017 to a record and account for around for around half of its total purchases, government and shipping data showed.

 

 JAPAN LNG INVESTMENT
2017, October, 16, 11:35:00

JAPAN LNG INVESTMENT

The Japanese government will offer $10 billion to support firms bidding to build liquefied natural gas (LNG) infrastructure around Asia, the Nikkei business daily said on Monday.

 

 JAPAN - INDIAN LNG
2017, October, 13, 12:45:00

JAPAN - INDIAN LNG

India will work with Japan to make long-term liquefied natural gas (LNG) import deals more affordable for its price-sensitive consumers, it said on Wednesday, as these two big importers try to secure better prices and concessions from suppliers.

 

 QATAR - JAPAN LNG TALKS
2017, May, 31, 17:35:00

QATAR - JAPAN LNG TALKS

Qatar faces rising competition from a tide of new LNG from sources including Australia, which is expected to surpass it as the world's top exporter by 2019.

 

 LNG  OVERSUPPLY
2017, April, 3, 18:40:00

LNG OVERSUPPLY

Korea Gas Corp (KOGAS), Japan's JERA and China National Offshore Oil Corp (CNOOC) [SASACY.UL] - whose joint liquefied natural gas volumes account for a third of global LNG trade - are attempting to cement a shift in power from producers to importers amid a supply glut that is expected to persist into the early-2020s.

 

 JAPAN'S LNG UP
2017, February, 10, 18:40:00

JAPAN'S LNG UP

The average price of spot LNG imports to Japan contracted in January 2017 was $8.40/mn Btu, up from $8/mn Btu in December 2016, the ministry of economy, trade and industry (Meti) said February 9, their highest level for two years. But Japan's IEEJ says that prices have now peaked.

 

 JAPAN CAN BUY MORE
2017, February, 6, 18:40:00

JAPAN CAN BUY MORE

Japan is putting together a package of plans for Japanese companies to invest in infrastructure and job-creation projects in the United States. Japan is the world's biggest buyer of the gas cooled to liquid form for transport on ships and takes in nearly a third of global shipments.

 

 

Tags: JAPAN, LNG

Chronicle:

JAPAN'S LNG MAXIMUM
2018, May, 21, 10:40:00

U.S. PETROLEUM DEMAND UP BY 750 TBD

API - American Petroleum Institute reported that the first four months of this year saw U.S. petroleum demand average 750 thousand barrels a day above the same period in 2017 despite higher prices, a sign of solid economic activity. April also saw the U.S. produce a record 10.5 million barrels per day (MBD) of oil.

JAPAN'S LNG MAXIMUM
2018, May, 21, 10:35:00

IMF: EGYPT'S GROWTH UP

IMF - “Egypt’s growth has continued to accelerate during 2017/18, rising to 5.2 percent in the first half of the year from 4.2 percent in 2016/17. The current account deficit has also declined sharply, reflecting the recovery in tourism and strong growth in remittances, while improved investor confidence has continued to support portfolio inflows. In addition, gross international reserves rose to $44 billion by end-April, equal to 7 months of imports.

JAPAN'S LNG MAXIMUM
2018, May, 21, 10:30:00

U.S. RIGS UP 1 TO 1,046

BAKER HUGHES A GE - U.S. Rig Count is up 1 rig from last week to 1,046, with oil rigs unchanged at 844, gas rigs up 1 to 200, and miscellaneous rigs unchanged at 2. Canada Rig Count is up 4 rigs from last week to 83, with oil rigs up 6 to 38 and gas rigs down 2 to 45.

JAPAN'S LNG MAXIMUM
2018, May, 18, 09:20:00

OIL PRICE: ABOVE $79

REUTERS - Brent crude futures LCOc1 were at $79.57 per barrel at 0310 GMT, up 27 cents, or 0.3 percent from their last close. Brent broke through $80 for the first time since November 2014 on Thursday. U.S. West Texas Intermediate (WTI) crude futures were at $71.62 a barrel, up 13 cents, or 0.2 percent, from their last settlement.

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