Global Markets: World’s largest LNG buyer posts decline in August imports

Image courtesy of BP

Japan’s liquefied natural gas (LNG) imports dropped by 6 percent in August year-on-year, according to the provisional data released by the country’s Ministry of Finance.

The world’s largest buyer of the chilled fuel imported 7.26 million mt of LNG last month as compared to 7.72 million mt in August 2016.

This is Japan’s second monthly decline in LNG imports this year.

Japan paid about $3.1 billion for LNG imports in August, a rise of 27.4 percent when compared to the same month in 2016.

On the other hand, the country’s coal imports for power generation rose by 23.5 percent to 10.1 million mt, the data showed.

To remind, the average price of spot LNG imported into Japan that was contracted in August was at $5.8 per million British thermal units (mmBtu), reaching a five-month high.

The arrival-based price was at $5.6 per mmBtu, the same as the previous month that was the lowest since August 2016. By LNG World News Staff

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