Japan’s LNG Stocks to Rise in Oct: Platts

Japan's LNG stocks are expected to rise between October and November amid stock replenishments and falling weather temperatures, according to Platts.

• "LNG stocks will go up soon. The current stock level is not that high but LNG demand will drop soon," according to a Platts source at a Japanese utility. "Our stock levels will start to increase in November.".
• "LNG stocks are going to rise before winter starts. Utilities typically receive more cargoes before winter from their term contracts," another Platts utility source said.
• Major power companies in Japan such as Kansai Electric Power Company and Jera bought spot cargoes for October and November arrivals, Platts sources said.
• Japan's LNG inventory held by the country's major power utilities stood at 1.56 million mt Sept. 24, down 1.9% from 1.59 million mt a week ago, the latest data released by the Ministry of Economy, Trade and Industry showed, marking the lowest level since end-January 2021.