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Japan’s liquefied natural gas imports for January fell to the lowest level for that month in over a decade, as nuclear reactor restarts, higher renewables output, and energy-savings efforts curb fossil-fuel needs.
Deliveries fell to just shy of 6 million tons last month, according to ship-tracking data compiled by Bloomberg. That’s the lowest volume for the month since 2009.
Japan’s LNG needs surged after the 2011 Fukushima disaster shut the nation’s 54 reactors, forcing the country to depend more on gas. LNG demand has since diminished as some of the idled reactors restarted, while the government pushed for households and businesses to conserve energy.
LNG inventories were high leading up to January, prompting Japan’s importers to resell shipments that would have otherwise been delivered for the month. Spot prices for the super-chilled fuel plummeted this winter due in part to weaker demand across North Asia, home to the worlds’ top importers.
