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FACTBOX-Japan LNG buyers boost trading operations - Reuters survey
June 2, 2017 / 8:21 AM / 2 months ago

FACTBOX-Japan LNG buyers boost trading operations - Reuters survey

5 Min Read

    By Osamu Tsukimori
    TOKYO, June 2 (Reuters) - Japan's biggest buyers of
liquefied natural gas (LNG) are boosting trading offices for the
fuel at home and overseas as they deal with excess supplies, a
Reuters survey showed.
    Japan is the world's biggest buyer of LNG and takes in about
one-third of global shipments. Many of the country's buyers have
too much supply under contract but have won more flexible terms
that allow them to resell cargoes to third parties.
    Japanese trading houses are also boosting their operations
in anticipation of more supplies flowing into Asia as Australian
and U.S. LNG projects start up in the coming years.
    Mitsui & Co Ltd plans to expand its liquefied
natural gas (LNG) trading operations in Singapore as demand for
the cleaner fuel spurs more spot transactions in Asia, a senior
executive told Reuters in an interview.
    The following table lays out the LNG trading operations for
Japan's biggest buyers of the fuel, along with purchase volumes,
the number of LNG carriers the companies own and other details. 
    The companies surveyed were: JERA, a unit of Tokyo Electric
Power and Chubu Electric Power, Kansai
Electric Power, Tohoku Electric Power, Kyushu
Electric Power, Chugoku Electric Power, Tokyo
Gas and Osaka Gas.
    FY refers to the financial year starting in April, while
other years are calendar. 
        
    LNG trading offices
    JERA: Tokyo (set up in 2015). Houston (natural gas, July
2016).
    Kansai: Singapore (April 2017.)
    Tohoku: None. No plans.
    Kyushu: Fukuoka headquarters in April 2017.
    Chugoku: None.
    Tokyo Gas: Tokyo headquarters.
    Osaka Gas: Osaka headquarters, London, Singapore and Houston
(natural gas).
    
    Annual LNG volumes and sales to third parties (in brackets)
    Units are in 1,000 tonnes. Kansai Electric declined to
provide details on third party sales. Osaka Gas said it has
signed long-term contracts to supply 2.5 million tonnes per
annum of LNG to third parties from the business year starting
April 2020.
    
 Company    FY2011    FY2012   FY2013   FY2014   FY2015   FY2016
 Tepco      24,090    24,870   25,250   24,820   23,020   22,370
               (0)       (0)      (0)     (70)    (130)      (0)
 Chubu      13,120    14,280   13,820   13,670   12,720   12,530
               (0)       (0)    (130)    (190)    (220)      (0)
 JERA*                                                    0(800)
 Kansai      7,420     8,060    8,500    9,440    8,730    9,360
 Tohoku      5,090     4,760    4,480    4,240    4,570    4,460
             (190)     (160)    (150)    (150)    (160)    (170)
 Kyushu      4,700     5,200    5,500    5,400    4,100    4,300
             (277)     (303)    (324)    (271)    (151)    (187)
 Chugoku     2,380     2,560    2,640    2,820    2,510    2,250
             (500)     (510)    (520)    (510)    (480)    (370)
 Tokyo      11,910    12,712   12,804   13,967   13,875   14,249
 Gas         (389)     (539)    (700)    (821)  (1,024)    (955)
 Osaka       8,110   8,150     8,190    8,080    7,800    8,920 
 Gas           (0)       (0)      (0)      (0)      (0)  (1,120)
    * NOTE: JERA took over fuel purchasing from Tokyo Electric
and Chubu Electric in July 2016.
    
    
LNG vessels (owned or managed). 
 Company    2012  2013  2014   2015  2016  Now  2017  2018  2019
 Tepco         5     5      6     6                             
 Chubu         0     0      0     0                             
 JERA                                   6          8    16      
 Kansai      n/a   n/a   n/a    n/a   n/a    3     4            
 Tohoku                                                        1
                                                            
                                                            
                                                            
                                                            
                                                            
 Kyushu      n/a   n/a   n/a    n/a   n/a    1                  
 Chugoku                                     0                  
                                                            
                                                            
                                                            
                                                            
                                                            
 Tokyo Gas    10    10     10    10    10   10    11    14      
 Osaka Gas     6     6      7     7     8                       
 
 (Reporting by Osamu Tsukimori; Editing by Aaron Sheldrick and
Richard Pullin)
  

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