30-11-2017

Japan Oct LNG imports slip 2.3% on year; Qatar, Nigeria volumes down

Japan’s LNG imports slipped 2.3% year on year to 6.1 million mt in October with volume from Nigeria and Qatar down, the data released by the Ministry of Finance showed on Wednesday.

Australia continued to be the largest supplier, shipping 1.75 million mt in October, down 6.3% on the year.

Malaysia’s volume rose 20% from a year earlier to around 1.1 million mt making it the second largest supplier, while imports from Qatar fell 34% year on year to 778,489 mt.

Japan receive a 66,311-mt cargo from Peru last month. The Maran Gas Efessos delivered a Peruvian cargo to Joetsu LNG receiving terminal on October 24, according to S&P Global Platts ship-tracking software cFlow.

Nigeria sent only one cargo in October, down 49% year on year, at a price of $292.98/mt, or $5.634/MMBtu. The Maran Gas Amphipolis delivered a Nigeria cargo into Futtsu LNG terminal on October 9, cFlow showed.

The Japan Customs Cleared crude oil price was $54.765/b in October, rising 21.2% from a year earlier and up 6.3% from the previous month. Some of Japan’s long-term LNG contracts are linked to the JCC crude price, but with a lag of a few months, so fluctuations in oil prices typically take some time to be reflected in LNG prices.

Source: Platts

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