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LNG Storage at Japan Utilities Still Low Despite Weekly Gain

LNG
HomepageBank of Japan (BOJ) Market NewsCommoditiesEnergy BulletsBullet

LNG storage at major Japanese power utilities is down so far in September, though the YoY difference is narrowing slightly with an increase of 1.2% on the week to 1.68m tonnes on 10 Sep according to data released by the trade ministry.

  • Stocks on 10 Sep were still 0.71m tonnes lower than the level on 11 Sep 2022 and will need gain by 0.38m tonnes to reach the five-year average for the end of September of 2.06m tons.
  • Volumes are down 36.8% from the 2.66m tons a year earlier.
  • Power consumption was slightly above average in the first 12 days of Sep. Temperatures in Tokyo are still forecast to peak above 30C for the next seven days and remain warm for the time of year into late September according to ICIS.

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LNG storage at major Japanese power utilities is down so far in September, though the YoY difference is narrowing slightly with an increase of 1.2% on the week to 1.68m tonnes on 10 Sep according to data released by the trade ministry.

  • Stocks on 10 Sep were still 0.71m tonnes lower than the level on 11 Sep 2022 and will need gain by 0.38m tonnes to reach the five-year average for the end of September of 2.06m tons.
  • Volumes are down 36.8% from the 2.66m tons a year earlier.
  • Power consumption was slightly above average in the first 12 days of Sep. Temperatures in Tokyo are still forecast to peak above 30C for the next seven days and remain warm for the time of year into late September according to ICIS.

Keep reading...Show less