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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, 23, 10:50:00

OIL PRICE: ABOVE $79 ANEW

REUTERS - Brent LCOc1 futures fell 43 cents, or 0.5 percent, to $79.14 a barrel by 0218 GMT, after climbing 35 cents on Tuesday. Last week, the global benchmark hit $80.50 a barrel, the highest since November 2014. U.S. West Texas Intermediate (WTI) crude CLc1 futures eased 25 cents, or 0.4 percent, to $71.95 a barrel, having climbed on Tuesday to $72.83 a barrel, the highest since November 2014.

JAPAN'S LNG MAXIMUM
2018, May, 23, 10:45:00

HARD OIL MARKET

FT - Most oil majors can now cover dividends and capital expenditure at prices around $50 per barrel, meaning that, at $80, they make a healthy surplus.

JAPAN'S LNG MAXIMUM
2018, May, 23, 10:40:00

U.S. THE WORLD'S TOP

EIA - The United States remained the world's top producer of petroleum and natural gas hydrocarbons in 2017, reaching a record high. The United States has been the world's top producer of natural gas since 2009, when U.S. natural gas production surpassed that of Russia, and the world's top producer of petroleum hydrocarbons since 2013, when U.S. production exceeded Saudi Arabia’s. Since 2008, U.S. petroleum and natural gas production has increased by nearly 60%.

JAPAN'S LNG MAXIMUM
2018, May, 23, 10:35:00

U.S. - CHINA ENERGY TRADE

PLATTS - China became the largest contributor to global LNG consumption growth in 2017. It surpassed South Korea as the world's second largest LNG importer and its share of global LNG demand is expected to converge with that of Japan by 2030.

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