METI says Japan LNG stocks at highest level in five years

Japan’s liquefied natural gas (LNG) inventories, held by the country’s major power utilities, reached the highest level in five years on October 15, according to the Ministry of Economy, Trade and Industry.

The ministry said LNG stocks hit around 2.3 million tonnes as of October 15, a rise of 0.7 million tonnes from a year earlier.

METI revealed this data after its first round of meetings on LNG fuel procurement. The meeting gathered executives from Japanese power and gas utilities, upstream companies and trading houses.

It is a part of METI’s efforts to ensure winter LNG supply after the domestic electricity price soared last winter and the country experienced power shortages due to tight supply and demand, following severe cold weather and low LNG inventories, the ministry said.

METI said the latest LNG inventories of major power utilities are at a “high level.”

“Even if the forthcoming winter turns out more severe cold than average year, we should be able to avoid the tightened supply and demand experienced in the last winter as long as each company maintains fuel procurements as planned,” METI said.

On the other hand, should power demand exceed expectations and there are unexpected large-scale power source outages, supply and demand may become tight, the ministry said.

Japan’s LNG imports dropped in September after logging a rise for three months in a row.

The country received 5.41 million tonnes of LNG last month, down 16.8 percent when compared to the same month last year, according to the provisional data released by the country’s Ministry of Finance this week.

Most Popular

LNG shipping rates continue to decrease

Spot LNG freight shipping rates in both basins continued to decrease this week, while European prices increased compared to last week.

Adnoc, ENN seal 15-year LNG SPA

UAE’s Adnoc has signed a 15-year sales and purchase agreement with Chinese independent gas distributor ENN to supply the latter with LNG from its LNG terminal in Al Ruwais.

US LNG exports climb to 34 cargoes

US liquefied natural gas (LNG) plants shipped 34 cargoes during the week ending April 16. According to the Energy Information Administration, pipeline deliveries to the LNG terminals increased compared to the prior week.

More News Like This

Japan’s March LNG imports down

Japan’s liquefied natural gas (LNG) imports dropped by 7.2 percent in March compared to the same month last year, according to provisional data released by the country’s Ministry of Finance.

Japan’s Tokyo Gas completes Sodegaura LNG power plant

Japan’s city gas supplier and LNG importer, Tokyo Gas, has completed its power plant located at the LNG import terminal in Sodegaura, Chiba prefecture.

Japan’s Tokyo Gas to expand LNG trading business

Japan’s city gas supplier and LNG importer, Tokyo Gas, plans to expand its liquefied natural gas trading business further, including in the US.

Japan’s February LNG imports drop

Japan’s liquefied natural gas (LNG) imports dropped by 2.5 percent in February compared to the same month in 2024, according to provisional data released by the country’s Ministry of Finance.