Japanese Utilities Slash LNG Consumption

摘要

Japan's 10 largest power utilities' LNG consumption fell 7% year-on-year in May, the biggest decline in over two years, according to government data. Consumption of the super-chilled fuel totaled 4 million tons while purchases for the month totaled just 3.8 million tons, according to the Federation of Electric Power Companies of Japan, marking the first monthly consumption deficit since November. Utilities have been reporting monthly surpluses and escalating LNG inventory levels since late last year as mild weather, especially through the spring, has dampened LNG consumption.