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Japan LNG and crude imports now in free fall

Australian and Asian cargoes decline by 30%

Japan LNG and crude imports now in free fall

 

Figures from the Ministry of Finance show overall LNG imports to Japan have fallen for the fifth consecutive month.

The world's largest LNG importer received 7.2 million tonnes of the fuel in April, down 1.2% on the prior year. 

However, the latest data showed it had received just 4.51 million tonnes of LNG over May, down 18.9% from this time last year. This is the lowest level of LNG imports to Japan since 2010.

May LNG deliveries from the Asia region, which includes Australia, Indonesia, and Malaysia, fell nearly 30% or by 965,000 tonnes. 

Meanwhile imports from the Middle East, mainly Qatar, had dropped by 16.8% or by 660,000 tonnes. 

The US on the other hand saw shipments more than double or by 409,000 tonnes of LNG. 

Other petroleum imports also fell drastically, by 36% on May 2019, to 9.5 million kiloliters of crude, or 59.7 million barrels. This is the lowest level of crude imports the country has seen in over three decades. 

Coal imports now outweigh both LNG and other petroleum commodities. Over May, Japan imported 7.2 million tonnes. 

It comes as Japan sweats through an unseasonably warm winter and COVID-19 pandemic restrictions limited travel and energy generation. 

 

A growing series of reports, each focused on a key discussion point for the energy sector, brought to you by the Energy News Bulletin Intelligence team.

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