Japanese companies handled approximately 102 million tonnes of LNG in the fiscal year 2022, Japan Organization for Metals and Energy Security (JOGMEC) said.
This is a significant decrease of 7.45 million tonnes (Mt) from the previous year, but the companies have continuously achieved 100 Mt since fiscal year 2019.
LNG imports in fiscal year 2022 totaled 70.55 Mt, down 0.91 Mt from the previous year. The volume of the “external trade” was 31.57 Mt, down 6.54 Mt from the previous year. Both import volume and external trade volume decreased, and the LNG handling volume in fiscal year 2022 decreased from fiscal year 2021, as JOGMEC notes.
The volume of the “external trade” decreased in fiscal year 2022 compared to the previous year, both for the offtake volume of LNG projects and the volume procured through term contracts and spot trades.
Japan Organization for Metals and Energy Security (JOGMEC) conducted surveys on the volume of LNG handled by Japanese companies and the current status of the destination restrictions in LNG sales and purchase agreements with the full cooperation of all Japanese companies engaged in LNG and announced the results.
Both surveys were conducted to follow up on the previous year’s surveys on the actual status of LNG handling volumes by Japanese companies and the contract terms and conditions related to destination restrictions in fixed-term LNG sales and purchase agreements.
The “FY2023 survey on the LNG handling Volume by Japanese companies” has revealed that Japanese companies handled approximately 102 million tonnes of LNG in the fiscal year 2022.
The “FY2023 survey on the destination clauses and price ondices in LNG SPAs” shows that the contract quantity with destination restrictions as of the survey is approximately 45 million tonnes, or 53% of the total, in the fiscal year 2021, and a significant decrease to approximately 33 million tonnes, or 42%, in the fiscal year 2022, and 22 million tonnes, or 40% of the total, in the fiscal year 2030.
