Global Oil & Gas: Japan’s August LNG imports rise 9.4 pct YoY

Image courtesy of Tepco

Imports of liquefied natural gas (LNG) by world’s largest consumer of the chilled fuel, Japan increased 9.4 percent in August as compared to the same month a year ago.

Japan imported 7.72 million mt of LNG in August, according to the provisional data released by Japan’s Ministry of Finance.

The data also showed that the country’s coal imports for power generation dropped 16.6 percent to 8.2 million mt.

Japan paid about US$2.67 billion for LNG imports in August, down 34.6 percent on year, according to the ministry’s data.

To remind, the price of spot LNG cargoes arriving in Japan in August dropped 10 percent from July to $5.4 per mmBtu on DES basis.

The August price decreased 30 percent when compared to $7.7 per mmBtu in August of 2015.(Source: LNG World News Staff)

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