Natural gas prices worldwide have continued to edge down as lagging winter weather and abundant storage win out over increasing risks in the Middle East and earthquakes in Japan.

Gas markets were relatively muted Tuesday despite a New Year’s Day tremor that impacted Japan, the world’s second largest LNG buyer. The 7.6 magnitude quake originated off the country’s western coast near the Noto region, killing more than 50 people and leaving thousands without power Monday.

Authorities in the Ishikawa prefecture initially reported around 1.2 GW of coal-fired generation had been taken offline in the region and gas-fired generation capacity had been reduced. Imports of liquefied natural gas from at least one terminal were also temporarily halted before resuming Tuesday.

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