Japan could lose its pole position as the world’s top LNG importer to China as early as 2022, according to a new report by energy consultancy Wood Mackenzie. By then, LNG imports in Japan are expected to decline 12% to 72.8 mmtpa compared to 2018, while China’s import volume rises 37.5% to 74.1 mmtpa.
Russian natural gas producer Novatek announced the closing of the sale of participation interests in Arctic LNG 2 Project to subsidiary of China National Petroleum Corporation, subsidiary of CNOOC, and the consortium of Mitsui & Co and Japan Oil, Gas and Metals National Corporation (Japan Arctic LNG).
Qatargas announced that it successfully delivered the 3,000th LNG cargo to Japan since the first ever Qatari shipment was delivered to Kawagoe LNG Receiving Terminal on 10th January 1997. The 3000th LNG cargo, which was transported onboard ‘Al Jasra’, a conventional LNG vessel with a capacity of 135,000 cubic metres, was delivered to JERA.
Japan is considering whether Self-Defense Forces troops should participate in a US-proposed coalition to protect strategic waters near the Strait of Hormuz, amid reports saying that the government is analyzing such a move. According to the law, the SDF can protect non-Japanese ships, but it only allows for action to be taken against pirates, and not threats from ships controlled by foreign governments.
Japan’s Ministry of Land, Infrastructure, Transport and Tourism announced it is conducting a business trial operating ships with low sulphur oil, as part of its efforts to prepare with the 2020 sulphur cap entering into force for ships globally from 1st January 2020.
According to a Banchero Costa report, China is on the path of surpassing Japan this year as the world’s top importer of LNG. In 2018, China retained its position as the second largest importer, globally, of the commodity after Japan, surpassing South Korea in 2017.
Following a two-day meeting in Japan’s Osaka, the leaders of the Group of 20 major economies discussed a free trade environment, after talks some members described as difficult. The leaders noted that growth remained low, whereas risks were tilted to the downside as trade and geopolitical tensions have grown.
Shizen Energy, Japanese solar power company signed an agreement with Ideol, a French wind developer, collaborating on a full size floating wind farm off the coast of Japan. This partnership coincides with recent senior recruitments to shore up its local sales and engineering subsidiary.
MOL announced a plan to issue ‘Sustainability Bonds’ through a public offering in Japan’s domestic market in July this year. It also announced the acquisition of a preliminary evaluation from a third-party institute. Sustainability bonds are used to finance and refinance green projects, which protect and improve the environment, and social projects.
Offshore renewables in Japan are set to receive an important boost after the country passed a bill last November, which enables wind farms to operate inside national territorial waters for the next 30 years. Offshore wind farms are expected to advance because of various factors, mostly via technological developments in floating wind turbines.
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