Arab Today, arab today japan lng oil demand will stay strong
Last Updated : GMT 22:14:17
Arab Today, arab today
Arab Today, arab today

Japan LNG, oil demand will stay strong

Arab Today, arab today

Arab Today, arab today Japan LNG, oil demand will stay strong

Tokyo - Arabstoday

Japan’s decision to restart two nuclear reactors idled for safety checks after the Fukushima catastrophe won’t cut the country’s spiraling fossil-fuel import bill unless more atomic units are brought back on line, traders and analysts said. Japan’s fuel purchases soared as reactors were shut down and put through safety checks after the meltdowns at Fukushima in March 2011, dragging the world’s third-biggest economy into its first trade deficit in more than three decades. The reactors at the Ohi plant operated by Kansai Electric Power Co each have a capacity of 1,180 megawatts and restarting them would reduce LNG usage by about 180,000 tonnes per month, according to Reuters calculations. If the reactors are replacing oil-fired generation, Japan’s crude requirements would fall by about 70,000 bpd. But with summer approaching, households and business turn on air conditioners and boost electricity consumption despite some energy saving efforts from last year and Kansai Electric is expected to keep fossil-fuel power plants online. “It’s still not going to make a huge impact in reducing oil demand, which will rise in the next few months when power demand is higher,” Alex Yap, oil analyst at Facts Global Energy said. Japan’s demand for direct-burning crude and fuel oil may rise as much a 900,000 bpd without more reactors operating, up from a peak of 700,000bpd in February, before the last unit shut down in May, he said. “The restart of the nuclear plant will not affect demand that much,” said a fuel oil trader in Singapore. “Fuel oil demand will be cut if more reactors come on line though.” Prime Minister Yoshihiko Noda and three other ministers approved the startups at a meeting yesterday in Tokyo. Noda has said the restarts are necessary to avoid damaging the world’s third-largest economy. The country’s current frontline regulator, the Nuclear and Industry Safety Agency, has approved safety checks for the 890-megawatt No3 reactor at the Ikata station operated by Shikoku Electric Power Co in southwestern Japan. The checks need to be approved by the Nuclear Safety Commission. Next on the list for possible approval are two Hokkaido Electric Power Co reactors in Tomari, northern Japan and the No2 reactor at the Shika station operated by Hokuriku Electric Power Co in western Japan. These reactors have combined capacity of 2,364 megawatts. “LNG demand will be supported by a recovery in city gas consumption and the shift of reliance by utilities on LNG away from nuclear power despite the expected restart of more reactors,” said Yu Nagatomi, an economist at the Institute of Energy Economics Japan. “Even though energy savings may cap electricity use, LNG demand for fiscal 2012/13 is unlikely to fall dramatically from a record 83mn tonnes in 2011/12,” Nagatomi said. Japan’s fiscal year runs from April through March. Spot prices for Asian LNG eased toward $17 per million British thermal units (mmBtu) for July cargoes this week as new supplies came onto the market, compared with less than $10 before the disaster. In May, when Japan went without nuclear power for the first time since 1970, power companies consumed a record 4.41mn tonnes equivalent of liquefied natural gas (LNG), worth an estimated $3.7bn. Fuel oil use in the same month rose 169% from a year earlier at 220,900 barrels per day (bpd) and crude consumption was up 148% at 241,400 bpd. Japan’s overall imports of crude totaled 3.7mn bpd in 2010. With oil at about $100 per barrel, that meant utilities spent $748mn on crude imports alone during the month. Prices of the sweet crude from Malaysia and Indonesia that is typically used for direct burning have risen to multi-year highs earlier this year, helped by the demand from Japanese power utilities.from gulf times.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today japan lng oil demand will stay strong Arab Today, arab today japan lng oil demand will stay strong

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today japan lng oil demand will stay strong Arab Today, arab today japan lng oil demand will stay strong

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israeli court convicts Palestinians of 2016

GMT 04:39 2017 Tuesday ,17 October

Israeli court convicts Palestinians of 2016
Arab Today, arab today Iran's Facebook shuts down

GMT 23:50 2017 Monday ,16 October

Iran's Facebook shuts down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Anoshka happy for reactions to her talk show

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:25 2017 Saturday ,14 October

Squeeze on UK health gives advanced

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday