Tokyo (Platts)--27 Apr 2018
Japan's LNG imports slipped 2.6% year on year to 7.9 million mt in March with
imports from Papua New Guinea dropping, Ministry of Finance data released
PNG LNG had shut its plant after a massive earthquake
hit the region on February 26. Japan's imports from PNG fell 65.7% from a year
ago to 145,580 mt, or about two cargoes, in March.
Japan imported 2.5
million mt from Australia in March, up 17.3% year on year and also accounting
for 31% of Japan's overall imports.
Imports from second-largest supplier
Malaysia reached 1.3 million mt, down 17.1% from a year ago, and volumes from
Qatar, which came in third, rose 12.1% year on year to 1.1 million mt.
Japan also received a cargo from Egypt last month. The Flex Enterprise
delivered a cargo from Idku, Egypt to the Oita terminal operated by Kyushu
Electric on March 12, according to S&P Global Platts trade flow software
The US also sent a couple of cargoes to Japan with the Kita LNG
delivering a Sabine Pass cargo to the Futtsu terminal on March 23 and the Creole
Spirit delivering another Sabine Pass cargo to the Himeji terminal on March 29,
The Japan Customs Cleared crude oil price was $66.746/b in
March, surging 18.9% from a year earlier but edging down 2.2% from the previous
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.