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LNG: Japan Utilities Raise LNG Stores and Seek September Cargoes

LNG

LNG stockpiles held by Japanese utilities increased 6.74% w/w to 2.06m tons in the week to Aug. 25, according to data released by the trade ministry.

  • Stocks rose from 1.93m tons the previous week.
  • Storage has risen above the five year average of 2.02m tons for the end of August and 19.8% higher than 1.72m tons a year earlier.
  • North Asia spot LNG prices are finding support from tightening available supply as Japanese companies seek purchases or swap cargoes for September delivery.
  • The Japanese government needs measures to encourage long-term LNG contracts, as LNG replaces coal in thermal power plants, according to a panel on decarbonization strategy cited by Bloomberg.
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