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Japan’s LNG Imports Hit 14-Year Low in 2023

LNG

Japan’s LNG imports fell 8% to 66.2m mt in 2023, the lowest since 2009, according to Reuters citing Ministry of Finance Data.

  • Consequently, Japan was overtaken by China as the largest LNG importer.
  • Japan has gradually revived its use of nuclear power since 2015. It previously shut its 54 reactors following the Fukushima nuclear disaster.
  • LNG imports from the USA were up 34% to 5.5m mt, while imports from Russia were down 11% to 6.1m mt.
  • LNG stockpiles held by Japanese utilities declined by 2.73% last week to 2.49mn tons as of 21 January according to data released by the trade ministry, cited by Bloomberg.

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