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

Malaysia’s Petronas and Oman’s OQEP Strengthen Oil and Gas Ties

Pharos Energy Kicks Off Drilling Campaign Offshore Vietnam

Brownfield Output Decline Accelerates, says IEA

POSH Set to Tow Nguya FLNG from China to Eni’s Congo Field

Synergy Marine Group Completes Conversion of LNG Vessel to FSRU

TotalEnergies Inks 10-Year LNG Supply Deal with South Korea’s KOGAS

Shelf Drilling Lands New Jack-Up Contract in Vietnam, Extends Egypt Deal

Inpex Picks FEED Contractors for Abadi LNG Onshore Plant

ADNOC Signs Long-Term LNG Deal with Hindustan Petroleum Corporation

Woodside Agrees Long-Term LNG Supply with Petronas Unit

Current News

Malaysia’s Petronas and Oman’s OQEP Strengthen Oil and Gas Ties

Southeast Asia’s 2GW Cross-Border Offshore Wind Scheme Targets 2034 Buildout

Pharos Energy Kicks Off Drilling Campaign Offshore Vietnam

Viridien to Shed More Light on Malaysia’s Offshore Oil and Gas Potential

US Pressure on India Could Propel Russia's Shadow Oil Exports

Energy Drilling’s EDrill-2 Rig Starts Ops for PTTEP in Gulf of Thailand

RINA Wins FEED Contract for Petronas’ Flagship CCS Project in Malaysia

ABL Secures Rig Moving Assignment with India's ONGC

Pakistan, Türkiye Deepen Oil and Gas Ties with Offshore Indus-C Block Deal

Eni-Petronas Gas Joint Venture Up for Launch in 2026

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