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Japan Seeking LNG Cargoes but Pace of Procurement is Slowing

LNG
Energy BulletsCommoditiesBank of Japan (BOJ) Market News

LNG buyers in Japan are seeking additional cargoes for delivery in May to July following a flurry of purchases last month according to Bloomberg but the pace of procurement is slowing.

  • Jera could purchase approximately 5 cargoes for May-July having bought at least 10 cargoes for April-May delivery over the last few weeks.
  • Other Japanese importers, including Kansai Electric and Tohoku Electric also purchased around 6 cargoes for the same period.
  • LNG stockpiles held by Japanese utilities have fallen during Q1 to the lowest since at least August 2022.
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LNG buyers in Japan are seeking additional cargoes for delivery in May to July following a flurry of purchases last month according to Bloomberg but the pace of procurement is slowing.

  • Jera could purchase approximately 5 cargoes for May-July having bought at least 10 cargoes for April-May delivery over the last few weeks.
  • Other Japanese importers, including Kansai Electric and Tohoku Electric also purchased around 6 cargoes for the same period.
  • LNG stockpiles held by Japanese utilities have fallen during Q1 to the lowest since at least August 2022.