Wednesday, June 13, 2012

Japan takes Ownership Stakes in LNG Projects Across Globe as Japanese Utilities Burn Record Amount in May

First up, the Alaska Dispatch:
ANALYSIS: Japan has been importing liquefied natural gas since 1969, starting with its first shipment from Alaska and expanding its supplier base over the years to 17 nations in 2011. But many of its supply contracts, with extensions, date from the 1970s and 1980s and will expire over the next decade, pushing buyers to negotiate new deals.

"Some industry analysts suggest that this is driving Japanese firms' interest in acquiring equity stakes in foreign liquefaction projects, in an effort to guarantee future supply," said a country analysis on Japan the U.S. Energy Information Administration updated June 4.

Japanese firms (utilities, oil and gas producers, and trading companies) own stakes in five LNG export projects in Australia — one that went online this year and four others under or ready to start construction. They also hold equity shares in operating and proposed projects in Russia, Indonesia and Canada, plus ownership in several more gas plays worldwide that could develop into LNG export operations....MORE
And from Reuters:
Japan utilities burn record gas in May as all nuclear units shut

* Fossil fuel burn rises as nuclear output falls to zero
    * Gas burn hits 4.41 mln T equivalent, record for May
    * Oil burn up 157 pct to 462,000 bpd

 (Adds details) 
    TOKYO, June 13 (Reuters) - Japan's 10 utilities consumed 22
percent more natural gas equivalent for power generation in May
from a year ago, setting a monthly record as all of the
country's nuclear power plants are shut on safety concerns,
industry data showed on Wednesday.
 The utilities burned 4.41 million tonnes of liquefied
natural gas (LNG) equivalent last month, a record for May, data
from the Federation of Electric Power Companies of Japan showed.
Consumption of fuel oil and crude oil was up 157 percent at
462,000 barrels per day from a year ago, the data showed.

The home of the Kyoto Accord burning oil to produce electricity. It's not 2007 is it.