29-12-2017

Japan’s Nov LNG imports fall 15% on year to 6.4 million mt

Japan’s LNG imports dropped 15% from a year ago to 6.4 million mt in November with volumes from Australia, Malaysia and Qatar falling, according to data released by the Ministry of Finance.

Australia was the top supplier with 2.23 million mt, down 9.9% from a year earlier.

The second-largest supplier was Malaysia with 1.16 million mt, down 9.8% from a year ago. Imports from Qatar fell 25% year on year to 776,263 mt.

Volumes from Australia, Malaysia and Qatar accounted for nearly 65% of Japan’s LNG imports in November.

Meanwhile, a couple of cargoes arrived from the US in November.

The Torben Spirit delivered a Sabine Pass cargo to the Sakai terminal on November 6 while The Ribera Del Duero Knutsen delivered a cargo from Sabine Pass to the Oita terminal on November 20, according to S&P Global Platts ship-tracking software cFlow.

Japan also received cargoes from Algeria and Nigeria.

The Oak Spirit delivered an Algerian cargo to the Kawagoe terminal on November 7 and the LNG Port-harcourt Ii delivered a cargo from Nigeria to the Futtsu terminal on November 15, according to cFlow.

The Japan Customs Cleared crude oil price was $57.676/b in November, up 17.5% from a year earlier and 5.3% 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.

Japan LNG imports

 
Nov-17
Oct-17
Nov-16
% chg on month
% chg on year
Australia
2,227,777
1,754,271
2,473,872
27.0
-9.9
Malaysia
1,162,232
1,085,112
1,288,338
7.1
-9.8
Qatar
776,263
778,489
1,036,008
-0.3
-25.1
Indonesia
544,031
706,287
479,325
-23.0
13.5
UAE
367,993
305,995
364,070
20.3
1.1
Brunei
320,508
226,805
298,714
41.3
7.3
Russia
282,907
588,001
652,419
-51.9
-56.6
Papua New Guinea
271,152
374,386
436,712
-27.6
-37.9
Oman
188,473
184,311
187,243
2.3
0.7
US
125,171
0
0
NA
NA
Algeria
73,264
0
60,714
NA
20.7
Nigeria
71,595
67,425
267,526
6.2
-73.2
Peru
0
66,311
0
-100.0
NA
Total
6,411,366
6,137,393
7,544,941
4.5
-15.0
           
           
CIF PRICE          
$/mt
408.17
405.96
380.28
0.5
7.3
Yen/mt
46,340
45,630
39,926
1.6
16.1
Exchange rate
113.53
112.4
104.99
1.0
8.1
JCC price ($/b)
57.676
54.765
49.079
5.3
17.5

Source: Ministry of Finance, Petroleum Association of Japan

Source: Platts

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