Japan’s LNG imports in May rise 16.3 percent

Japan, the world’s top LNG importer this year, boosted its imports of liquefied natural gas in May by 16.3 percent, while prices continue to rise, according to the provisional data released by the country’s Ministry of Finance.

Last month Japan took about 5.76 million tonnes of LNG, rising from both 4.95 million tonnes in May 2021 and 5.57 million tonnes in the prior month.

Also, Japan’s coal imports for power generation rose year-on-year in May.

Coal imports increased by 7.1 percent to 8.54 million tonnes, the data shows.

Prices surge

Japan paid about $4.51 billion for LNG supplies in May. This marks a rise of 154.7 percent when compared to the same month in 2021, according to the data.

State-run Japan Oil, Gas and Metals National Corp (JOGMEC) said earlier this month the average contract-based price for spot LNG cargoes shipped to Japan in May had reached $31.1 per mmBtu. This compares to 34.6 per mmBtu in April.

US, Russian LNG deliveries down

Looking at LNG shipments in May, deliveries from Asia from countries such as Malaysia and Indonesia rose by 56.7 percent to 1.35 million tonnes, the ministry’s data shows.

Middle East LNG shipments from countries like Qatar were down by 15.9 percent to 545,000 tonnes.

Additionally, shipments from Russia decreased by 5.4 percent to 559,000 tonnes, while US deliveries dropped by 51.1 percent to 267,000 tonnes.

Top LNG importer

China became the world’s largest LNG importer last year, overtaking Japan by more than four million tonnes.

This year, Japan imported about 25.96 million tonnes in the first four months, up by more than four million tonnes compared to China’s volumes.

With the May figure, Japan took about 31.72 million tonnes of LNG in the five-month period and continues to be the world’s top LNG importer.

China has still not issued official data for LNG imports in May. The country’s total natural gas imports including piped gas and LNG reached 9.07 million tonnes in May.

Most Popular

South Korea’s Posco says first LNG carrier to start ops in H2

Posco International, a unit of South Korean steel producer Posco, plans to start shipping LNG with its first dedicated LNG carrier in the second half of this year.

Canada’s Cedar LNG names FLNG

Canada’s Cedar LNG, a joint venture of Canada’s Pembina Pipeline and the Haisla Nation, has picked a name for its floating LNG facility, which will be located in the traditional territory of the Haisla Nation, on Canada’s West Coast.

Wilhelmshaven LNG jetty ready to welcome Excelerate’s FSRU

Dutch marine contractor Van Oord announced on Monday it had completed the new jetty for its client, state-owned LNG...

More News Like This

Japan’s April LNG imports climb

Japan’s liquefied natural gas (LNG) imports rose by 1.7 percent in April compared to the same month last year, according to provisional data released by the country’s Ministry of Finance.

GECF says April LNG imports rise

Global liquefied natural gas (LNG) imports rose by 3.5 percent year-on-year in April, boosted by higher imports in Europe, the Gas Exporting Countries Forum said in its latest report.

Japan’s Hokuriku Electric kicks off preliminary work on Toyama LNG unit

Japan's utility Hokuriku Electric has started preliminary surveys and facility design for a second LNG-fired unit at the Toyama Shinko thermal power station.

GECF says March LNG imports jump

Global liquefied natural gas (LNG) imports jumped by 8.4 percent year-on-year in March, boosted by higher imports in Europe, the Gas Exporting Countries Forum said in its latest report.