Japan’s LNG demand set to jump as renewables build-out slows
LNG demand in Japan’s power sector is expected to rise by more than 10% to about 74 million tons by 2040, the government forecasts factoring in a slow build-out of renewables. Unless wind and solar power capacity expands substantially, or the cost of hydrogen and ammonia falls sharply – Japan’s gas demand is bound to increase.
UK aims to become European LNG hub while US expects exports to be back to record levels by December
The UK has told the Ninth LNG Producer-Consumer Conference hosted virtually this year by the Japanese Ministry of Economy, Trade and Industry (METI) that it aimed to become an LNG hub for Europe, while the US has said America's LNG exports will be breaking records by December.
Japanese spot LNG prices rise from previous record lows but are still well down on 2019 levels
Japanese contracted spot LNG cargo prices for June rose to $3.80 per million British thermal units after falling to a record low of $2.20 per MMBtu in the previous month of May, though are still well down on June 2019 when they were valued at $5.50 per MMBtu.
Japanese contracted spot LNG cargo prices plunged to record low of $2.20 per MMBtu during May
Japanese contracted spot LNG cargo prices for May fell to a record low of $2.20 per million British thermal compared with $5.40 per MMBtu in May 2019 amid the current over-supply and the commercial effects of the Covid-19 pandemic.
Japanese spot LNG cargoes show combined effects of coronavirus and over-supplied market
Japanese spot liquefied natural gas cargoes contracted in February reflected the combination of an over-supplied market and the first commercial effects of the coronavirus as contracted spot LNG prices dropped by $2.50 per million British thermal units in a week or two from an already low base.
Qatar Petroleum tells Tokyo event LNG is best suited to meeting environmental challenges
Qatar Petroleum has spoken up for the producer side at the LNG Producer-Consumer Conference in Tokyo while also encouraging importers and nations currently without LNG to take advantage of the fuel that is now a crucial part of the global environmental clean-up.
Japanese spot LNG cargo prices plunge versus 2018 though cost more than previous month
Japanese spot liquefied natural gas cargoes delivered in August cost $4.30 per million British thermal units less than in the same month a year ago, though $0.80 more than in July 2019 amid an over-supplied market.
Japanese spot LNG cargo arrivals in June cost $2.20 per MMBtu more than previous month
Spot liquefied natural gas cargoes delivered to Japan last month cost $2.20 per million British thermal units more than in the previous month even as market prices were much lower and available volumes were high.
Japanese spot LNG cargo prices drop because of over-supply and seasonal adjustments
Japanese spot liquefied natural gas cargoes contracted last month cost an average of $5.40 per million British thermal units, which was $2.80 per MMBtu less than in May 2018 amid a glut in supplies and lower seasonal demand.
Japanese LNG imports to drop further if nation keeps policy target of 30 nuclear plant restarts
Japan has been returning to nuclear power and now has nine units operating with a total electricity generation capacity of 8.7 gigawatts and a US report has forecast that imported LNG supplies for Japanese gas-fired power plants would likely decline in 2019.
