Japanese LNG Imports Rise

Japan's imports of liquefied natural gas rose 10% between February and June this year, with the country forced to ship in greater volumes of LNG after its nuclear and coal-fired power plants were damaged in the March disasters.

LNG imports over the five-month period rose from 63.05m cu metres in 2010 to 70.24m cu metres, according to data from Lloyd’s List Intelligence.

After the catastrophe in March, LNG cargoes were diverted to Japan from international suppliers to make up Japan’s energy shortfall.

Indeed, the nation’s spot purchases of LNG hit a 33-month high in June to replace lost electricity production, Reuters reported.

At least nine spot cargoes were reportedly bought by Japan from Yemen, Peru, Algeria, Nigeria and Equatorial Guinea in June compared with seven spot cargoes in May.

Previously, the highest number of cargoes bought by Japan in a month was eleven in September 2008.

Some analysts are saying that the gas glut has come to an end due to additional demand from Japan but also from Thailand, Vietnam and India.

Source:  Lloyd’s List