Natural gas is a fossil fuel majorly comprising of methane. As with other fossil fuels, it is formed deep beneath the earth’s surface due to the decomposition of dead plants and animals under extreme heat and pressures. Natural gas is cleaner than most other fossilized fuels. However, its calorific value is lower than the fossil fuels like petrol, diesel, and LPG. With this, liquified natural gas is compressed at -290 degrees in the liquified form, which is useful for transport and heat generation.

JAPAN LIQUEFIED NATURAL GAS (LNG) MARKET

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Natural gas is a fossil fuel majorly comprising of methane. As with other fossil fuels, it is formed deep beneath the earth’s surface due to the decomposition of dead plants and animals under extreme heat and pressures. Natural gas is cleaner than most other fossilized fuels. However, its calorific value is lower than the fossil fuels like petrol, diesel, and LPG. With this, liquified natural gas is compressed at -290 degrees in the liquified form, which is useful for transport and heat generation.

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The increasing demand for consumption, lower carbon footprint, and limited short-term alternatives for natural gas drive the demand for natural gas in Japan. Japan has a relatively balanced LNG portfolio and receives supplies from various countries. LNG volumes from heritage exporters Malaysia and Indonesia are becoming more limited. As a result, Japan has tried to diversify its contracts and investments into other LNG ventures.

Japan depends on LNG imports for all of its natural gas supply. It ranked as the world’s largest LNG importer in 2019. Its import value in 2019 was roughly $39.8 billion and shared approximately 23.4% of the world’s net total LNG imports. Australia, Brunei, Malaysia, Qatar, and Russia are Japan’s major LNG importing countries.

Energy supply security is one of the primary concerns of the government. The 2011 Fukushima nuclear accident led to the shutdown of all the nuclear power plants. It incurred huge costs on Japan’s economy. However, the government is strategizing to restart its nuclear generation developments, creating gas-to-gas plants and an LNG spot market.

In 2019, a set of companies based in Japan and its government launched a liquefied natural gas project with U.S. and Russian collaborators in the eastern part of Russia. The major stakeholders in this project include Japan’s Ministry of Economy, Trade and Industry, private firms like Japan Petroleum Exploration, Itochu, and Marubeni, and foreign firms like Rosneft Ltd & Sakhalin Oil and Gas Development Ltd, a Russian state oil company, and Exxon Mobil.

The top LNG companies in the country are LNG Japan Corp, Tokyo Gas, Osaka Gas, etc.

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    1. JAPAN LNG MARKET: EXECUTIVE SUMMARY
    2. JAPAN OVERALL ECONOMIC CONDITIONS
    3. JAPAN PRIMARY ENERGY CONSUMPTION
    4. NATURAL GAS
      • NATURAL GAS CONSUMPTION
    5. LIQUIFIED NATURAL GAS
      • VALUE CHAIN ANALYSIS
        • EXPLORATION AND PRODUCTION
        • LIQUEFACTION
        • SHIPPING
        • STORAGE AND REGASIFICATION
        • END-USERS
      • TRADE
        • IMPORTS
      • LNG TERMINALS
        • LIST OF LNG IMPORT TERMINALS
      • REGULATORY FRAMEWORK FOR LNG

    LIST OF TABLES

    TABLE 1: JAPAN NATURAL GAS CONSUMPTION, 2016-2020 (IN EXAJOULES)

    TABLE 2: JAPAN LNG IMPORTS, 2016-2020 (IN BILLION CUBIC METERS)

    TABLE 3: LNG IMPORT TERMINALS, EXISTING

    TABLE 4: REGULATORY FRAMEWORK

    LIST OF FIGURES

    FIGURE 1: JAPAN GROSS DOMESTIC PRODUCT, 2016-2019 ($ BILLION)

    FIGURE 2: PRIMARY ENERGY CONSUMPTION, BY FUEL TYPES, 2019 & 2020 (IN %)

    FIGURE 3: PRIMARY ENERGY CONSUMPTION, 2016-2020 (EXAJOULES)

    FIGURE 4: VALUE CHAIN ANALYSIS

    JAPAN GROSS DOMESTIC PRODUCT, 2016-2019, ($ BILLION)

    japan-lng-market-GDP

    GDP (constant 2010 US$)
    Source: World Bank

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