japan

Japan Looks to Restart Nukes to End Russian LNG Reliance

Japan Looks to Restart Nukes to End Russian LNG Reliance

Japan expects to reduce its reliance on Russian liquefied natural gas (LNG) imports, but it’s unlikely to happen quickly, officials said. The Group of Seven (G-7), an inter-governmental political forum, has been considering ways to punish Russia following its invasion of Ukraine. The G-7 consists of Canada, France, Germany, Italy, Japan, the UK and the…

June 3, 2022
ICE Reports Jump in LNG, European Natural Gas Trades Amid Volatility

ICE Reports Jump in LNG, European Natural Gas Trades Amid Volatility

Additional volatility in the global natural gas market set off by Russia’s invasion of Ukraine earlier this year is driving liquidity in global benchmarks that continues to set new highs, particularly in Europe, according to the Intercontinental Exchange (ICE).  Open interest in Italian Punto di Scambio Virtuale (PSV) gas futures was up 169% year/year from…

June 1, 2022
Asian LNG Demand Continuing to Fall, as More Cargoes Head to Europe

Asian LNG Demand Continuing to Fall, as More Cargoes Head to Europe

Liquefied natural gas (LNG) demand across Asia has weakened considerably in recent weeks, dragging down forecasts for global consumption this year and leaving less competition for European buyers eager to displace Russian energy supplies. “We are entering into negative territory,” said analyst Gergely Molnar of the International Energy Agency (IEA). The global energy watchdog expects…

April 21, 2022
Jera Launching Hydrogen Pilot in Japan to Displace LNG in Power Generation

Jera Launching Hydrogen Pilot in Japan to Displace LNG in Power Generation

Jera Co. Inc., Japan’s largest power company, said Thursday it plans to launch a pilot project backed by the government that could help displace 30% of the liquefied natural gas (LNG) used to generate electricity, with hydrogen planned at a select power plant.  The government grant would help fund the switch to hydrogen for a…

August 26, 2021
Japan’s Draft Energy Plan Could Squeeze LNG Importers, but U.S. Suppliers ‘Still in the Game’ — LNG Spotlight

Japan’s Draft Energy Plan Could Squeeze LNG Importers, but U.S. Suppliers ‘Still in the Game’ — LNG Spotlight

Japan’s latest efforts to decarbonize could leave the liquefied natural gas (LNG) sector in the lurch as the nation looks to further reduce the share of fossil fuels in its energy mix by 2030. A draft plan unveiled by the government last month would see the nation reduce the share of fossil fuels in its…

August 11, 2021
Chevron Inks Another Deal to Supply LNG in Asia

Chevron Inks Another Deal to Supply LNG in Asia

Chevron Corp. said Wednesday that it has signed a binding sales and purchase agreement (SPA) to supply liquefied natural gas (LNG) to a utility in Hokkaido, Japan, beginning in 2022. Under the deal, affiliate Chevron U.S.A. Inc. would provide 500,000 tons of LNG from 2022 to 2026 to Hokkaido Gas Co. Ltd. With harsh winters,…

April 7, 2021
Japanese Alliance Formed to Buy, Promote Carbon-Neutral LNG

Japanese Alliance Formed to Buy, Promote Carbon-Neutral LNG

Utility Tokyo Gas Co. Ltd. has joined forces with 14 other Japanese city gas end-users to form an alliance dedicated to buying and promoting carbon-neutral liquefied natural gas (LNG).  The Carbon Neutral LNG Buyers Alliance plans to promote awareness for decarbonized cargoes, which, unlike traditional shipments, offsets emissions with credit purchases that fund worldwide environmental…

March 10, 2021
CME to Launch Asian LNG Futures Contracts Aimed at Japanese Power Producers

CME to Launch Asian LNG Futures Contracts Aimed at Japanese Power Producers

CME Group said late Wednesday it plans to launch two Asian liquefied natural gas (LNG) futures contracts and four Japanese electricity futures contracts in February. While the electricity contracts would expand CME’s suite of global power futures and options, the two LNG contracts could provide Japanese power producers another tool to manage price risk, the…

January 7, 2021
Japanese, Chinese Carbon-Neutral Plans May Impact U.S. LNG Industry

Japanese, Chinese Carbon-Neutral Plans May Impact U.S. LNG Industry

Recent announcements by the leaders of China and Japan to achieve carbon neutrality in the coming decades could initially increase demand for U.S. liquefied natural gas (LNG), but that demand could be reduced as early as 2030, analysts said. Japanese Prime Minister Yoshihide Suga on Monday said the country would aim to become a “carbon-neutral,…

October 29, 2020
Berkshire Hathaway Ups Oil, Natural Gas Holdings with $6B Investment in Japanese Trading Houses

Berkshire Hathaway Ups Oil, Natural Gas Holdings with $6B Investment in Japanese Trading Houses

An affiliate of Warren Buffet’s Berkshire Hathaway Inc. said Monday that it has taken stakes in five of Japan’s biggest trading companies, which have significant oil and natural gas holdings worldwide.  Subsidiary National Indemnity Company has acquired more than 5% of the outstanding shares of Itochu Corp., Marubeni Corp., Mitsubishi Corp., Mitsui & Co. and…

August 31, 2020
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