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Japan’s liquefied natural gas (LNG) imports decreased by 15.1 percent in May compared to the same month last year, according to provisional data released by the country’s Ministry of Finance.
The country’s LNG imports dropped to 3.96 million tonnes last month compared to 4.66 million tonnes in May 2025.
LNG imports also dropped compared to 4.26 million tonnes in April, 5.87 million tonnes in March, 5.82 million tonnes in February, and 6.24 million tonnes in January.
Moreover, Japan’s coal imports for power generation rose in May compared to the same month last year.
The ministry’s data shows that coal imports were up by 14.1 percent to 6.60 million tonnes.
LNG import bill
The May LNG import bill, which was approximately $2.45 billion, down by 3 percent compared to the same month last year.
JOGMEC said in its preliminary report last week that the average price of spot LNG cargoes for delivery to Japan contracted in May 2026 and scheduled to be delivered from the month onward (contract-based price) was not disclosed.
Moreover, the average price of spot LNG cargoes that were delivered in Japan within the month of May 2026 regardless of the month when the contracts were made (arrival-based price) was 18.1/MMBtu.
JOGMEC said confirmed figures for April 2026 were updated from the preliminary figures, with the contract-based price at $19.2/MMBtu. The arrival-based price remained unchanged at $17.9/MMBtu.
LNG prices and shipping rates skyrocketed after QatarEnergy halted LNG production on March 2 due to military attacks on its operating facilities in Ras Laffan. The company also declared force majueure to its buyers on March 4.
Japan Petroleum Exploration Co (Japex) previously said that it had purchased two spot LNG cargoes at “significantly” higher prices to substitute cargoes from the Middle East due to the ongoing blockade of the Strait of Hormuz.
The recent announcment of a memorandum of understanding between the US and Iran pushed oil and gas, and LNG prices lower.
However, market participants await official information regarding the full reopening of the Strait of Hormuz and the restart of Qatari LNG production and shipments.
LNG inventories
Japan’s Ministry of Economy, Trade and Industry (METI) previously announced that Japan’s LNG inventories for power generation stood at 2.06 million tonnes on May 3, down from 2.17 million tonnes the previous week.
According to METI, LNG inventories stood at 2.12 million tonnes on May 10, 2.04 million tonnes on May 17, 1.95 million tonnes on May 24, 1.90million tonnes on May 31, 1.80 million tonnes on June 7, and 2.04 million tonnes on June 10.
Deliveries
As per LNG shipments to Japan in May, deliveries from Asia rose by 40.4 percent year-on-year to 899,000 tonnes, according to the ministry’s data.
Middle East LNG shipments dipped by 72.1 percent to 129,000 tonnes in May due to the conflict.
Moreover, shipments from Russia dropped by 8.7 percent to 453,000 tonnes, while US deliveries rose by 43 percent to 677,000 tonnes in May.
China, the world’s largest importer of LNG, has not released official LNG import data for May, but its total gas imports, including pipeline natural gas, were flat last month.
In April, China reported a 22.9 percent year-on-year decrease in LNG imports.
During January-April, Chinese LNG terminals received 17.94 million tonnes of LNG.
This is 4.25 million tonnes less than Japan imported during the four-month period.