Japan's LNG Imports Rise 3% Year on Year in April

Japanese imports of LNG in April rose 3% year on year to 6.57mn metric tons (mt), according to data released May 22 by country’s ministry of finance.

The value of the imports during the month was $2.6bn, it said.

The import price of LNG has been weaker in recent months compared with prices a few years ago, pressured by oversupply conditions in the global market. And, in February, Japan's Institute of Energy Economics (IEEJ) said that prices for the short term had peaked.

The country's ministry of trade, economy and industry (Meti) said the average price of spot cargoes arriving in January 2017 (and therefore priced in previous months) was $7.30/mn Btu, compared with $6.80/mn Btu for the previous month’s arrivals.

Japanese LNG import volumes and prices rocketed to record levels in 2013-14 to provide fuel for power generation, following the closures of all the country’s reactors in March 2011. 

Shardul Sharma