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LNG: Japan Considers Increasing LNG for Emergency Reserve to 12 Cargoes per Year

LNG
Energy BulletsBulletPower BulletsCommodities

Japan considers increasing LNG purchases for the emergency reserve to at least 0.84m tonnes of LNG per annum from the current level of 0.21m, according to Reuters citing an official of its industry ministry.

  • The country aims to increase purchase to at least 12 cargoes a year from three to protect against unexpected supply shocks, such as geopolitical risks or nuclear reactor halts. LNG makes up a third of the power generation mix in Japan.
  • JERA will continue buying one 70k metric tons cargo per month in the coming December to February, said Yuya Hasegawa at ministry's energy resources development division, and in line with purchases last winter.
  • "From the mid- to late-2020s, we will try to secure at least one cargo per month throughout a year - that is, at least 12 cargoes per year," Hasegawa said
  • JERA would continue handling cargoes for the reserve.
  • Japan has no underground gas storage but has LNG storage capacity of around 12bcm at its LNG receiving terminals, covering just over a month of consumption.
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Japan considers increasing LNG purchases for the emergency reserve to at least 0.84m tonnes of LNG per annum from the current level of 0.21m, according to Reuters citing an official of its industry ministry.

  • The country aims to increase purchase to at least 12 cargoes a year from three to protect against unexpected supply shocks, such as geopolitical risks or nuclear reactor halts. LNG makes up a third of the power generation mix in Japan.
  • JERA will continue buying one 70k metric tons cargo per month in the coming December to February, said Yuya Hasegawa at ministry's energy resources development division, and in line with purchases last winter.
  • "From the mid- to late-2020s, we will try to secure at least one cargo per month throughout a year - that is, at least 12 cargoes per year," Hasegawa said
  • JERA would continue handling cargoes for the reserve.
  • Japan has no underground gas storage but has LNG storage capacity of around 12bcm at its LNG receiving terminals, covering just over a month of consumption.