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Japan to Meet Fuel Demand This Winter: Report

LNG

Major Japanese utilities are securing enough fuel to meet winter needs, despite declining inventories according to a report from the Japanese Trade Ministry

  • Companies will be procuring fuel from the spot market if long-term supply contracts aren’t expected to cover demand, the report stated.
  • LNG stockpiles held by Japanese utilities fell by 1.89% on the week to 1.56mn tons as of 24 September, trade ministry data show, as hotter weather drained supply. This is well below the five-year average of 2.06mn tons and down by 41.4% year on year.
  • From this winter, utilities will be able to use a strategic reserve the government created in event of LNG supply shortage.
  • The report indicates that Japan’s power providers will have enough fuel if there is normal winter weather. That may allay wider fears that Japan will significantly boost spot LNG purchases these next few months and tighten global supply.
Energy BulletsBank of Japan (BOJ) Market NewsCommodities
Energy BulletsBank of Japan (BOJ) Market NewsCommodities

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