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LNG: Japanese Utilities LNG Stocks Fall Ahead of Winter Amid Hot Weather

LNG
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LNG stockpiles held by Japanese utilities fell 12.3% w/w to their lowest level since April on Sept. 22 at 1.64m tons, according to data released by the trade ministry.

  • LNG burn has increased amid recent hotter-than-normal weather in Japan although temperatures are returning to nearer normal levels allowing utilities to refill inventories from long-term contract supply, according to Bloomberg.
  • Storage is below the five year average of 1.99m tons for the end of September but unchanged from this time last year.
  • Cold winter weather could increase spot LNG purchases and Japan Meteorological Agency forecast a 40% chance of colder-than-normal temperatures between Dec.-Feb. in the most populated regions, with a 30% chance of normal temperatures and 30% chance of milder temperatures.

 

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LNG stockpiles held by Japanese utilities fell 12.3% w/w to their lowest level since April on Sept. 22 at 1.64m tons, according to data released by the trade ministry.

  • LNG burn has increased amid recent hotter-than-normal weather in Japan although temperatures are returning to nearer normal levels allowing utilities to refill inventories from long-term contract supply, according to Bloomberg.
  • Storage is below the five year average of 1.99m tons for the end of September but unchanged from this time last year.
  • Cold winter weather could increase spot LNG purchases and Japan Meteorological Agency forecast a 40% chance of colder-than-normal temperatures between Dec.-Feb. in the most populated regions, with a 30% chance of normal temperatures and 30% chance of milder temperatures.

 

Keep reading...Show less