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Japan Considers Strategic LNG Reserve

LNG

Japan’s government is considering creating a strategic reserve of LNG to build resilience against tight future global supplies.

  • The proposal is for authorities to support local companies to buy excess supply for energy security. In an emergency the trade ministry would order the sale of volumes to domestic firms rather than overseas.
  • The government will propose a plan where sellers will receive financial support for loss making sales from a fund set up within state owned Japan Organization for Metals and Energy Security (JOGMEC). If the seller profits from the sale the money will be returned to JOGMEC.
  • The suggested aim is for at least one cargo a month from Dec to Feb each year and a long term target of a strategic buffer of 12 cargoes.
Energy BulletsBank of Japan (BOJ) Market NewsCommodities
Energy BulletsBank of Japan (BOJ) Market NewsCommodities

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