LNG

Japanese liquefied natural gas imports dropped almost 19 percent in April even as cargo numbers remained stable from Australia but declined from other regions as milder weather and higher energy storage curbed demand for LNG cargoes as well as thermal coal.

Japan would pay one-third more per annum for imported liquefied natural gas if it followed the route of Shell and exited the Sakhalin II LNG project in the Russian Far East where two Japanese trading houses are shareholders.

Japanese spot LNG delivered cargo prices were at an average of $10.60 per million British thermal units in December, a rise of $2.50 per MMBtu compared with the price the previous year of $8.10 per MMBtu, though lower than the November 2018 price.