Japan's LNG Imports Slide to Lowest Since May 2016

By Aaron Sheldrick
Thursday, July 19, 2018

Japanese imports of liquefied natural gas (LNG) in June fell to the lowest in more than two years as the country's utilities switched on more nuclear reactors that had been shut in the wake of the Fukushima atomic disaster in 2011.

Japan has six reactors operating and three others have passed safety inspections and could be operating by October, allowing utilities to switch away from LNG. Spot prices for the fuel rose to three-and-a-half-year high in June.

Japan, the world's biggest importer of LNG, brought in 5.55 million tonnes of the fuel in June, down more than 10 percent from a year earlier, official data showed on Wednesday. That was the lowest monthly import number since May 2016.

Imports of thermal coal also fell in June, down 18.3 percent from a year earlier, and the lowest since May 2017, the data showed.

The Fukushima disaster in March 2011 sparked the country's worst energy crisis in the post-war period, forcing it to import huge amounts of LNG and driving prices to record highs. They also turned to cheaper coal imports.

All of the country's reactors were eventually shut down to be relicensed under new safety rules after the disaster highlighted regulatory and operator failings.

Nine out of 40 commercially operable units have been relicensed under the new rules. One of the three not operating has been shut down by a court order that expires in September, while the other two are under regular maintenance and refueling and due to start operating within weeks.

Still, nuclear power remains unpopular in the country and many hurdles remain to getting more units operating beyond the nine approved, analysts have said.


(Additional reporting by Osamu Tsukimori; Editing by Christian Schmollinger)

Categories: Tankers Energy LNG

Related Stories

Seascape Energy Expands Temaris Gas Acreage Offshore Malaysia

Oil Markets Brace for Years of High Prices as Iran War Drags On

Seadrill Secures Offshore Drilling Deals Across Four Countries

Jack-Up Rig Arrives in Indonesia for Conrad Asia Energy's MOPU Conversion

Eni Agrees Indonesian Gas Asset Sales to Pertamina and Medco

Iran Weighs US Response as Hormuz Reopening Talks Stall

Oil Stabilizes as IEA Moves to Speed Up Emergency Stock Releases

Qatar-Linked LNG Tankers Resume Hormuz Transits

Santos Expands LNG Portfolio with Asia, Canada Deals

FPSO for Azule Energy’s Angola Offshore Field Starts Taking Shape in China

Current News

Inpex-Led Bonaparte CCS Project Gets Australian Offshore Storage Approval

Seascape Energy Expands Temaris Gas Acreage Offshore Malaysia

Oil Markets Brace for Years of High Prices as Iran War Drags On

Seadrill Secures Offshore Drilling Deals Across Four Countries

Jack-Up Rig Arrives in Indonesia for Conrad Asia Energy's MOPU Conversion

Murphy Oil Finds More Oil Offshore Vietnam, Côte d'Ivoire

Oil Caught Between Trump's Russia Supply Push and Middle East Risks

Eni Agrees Indonesian Gas Asset Sales to Pertamina and Medco

Riyadh Attacks Disrupt Oil Majors' Summit Plans

Iran Weighs US Response as Hormuz Reopening Talks Stall

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com