{"id":20167,"date":"2016-04-22T19:30:54","date_gmt":"2016-04-23T00:30:54","guid":{"rendered":"http:\/\/olduvai.ca\/?p=20167"},"modified":"2016-04-22T19:30:54","modified_gmt":"2016-04-23T00:30:54","slug":"this-six-year-running-oil-and-gas-trend-just-reversed-itself","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=20167","title":{"rendered":"This Six-Year Running Oil And Gas Trend Just Reversed Itself"},"content":{"rendered":"

This Six-Year Running Oil And Gas Trend Just Reversed Itself<\/a><\/h3>\n
\n
\n
\n

The U.S. Senate this week\u00a0approved a bill<\/a>\u00a0to speed permitting of new liquefied natural gas (LNG) export facilities. Just as news from one of the world\u2019s most important LNG consumers shows the market isn\u2019t what it used to be.<\/p>\n

The place is Japan. Where statistics released Wednesday showed that annual Japanese LNG demand fell for one of the first times in recent memory.<\/p>\n

Trade data showed that\u00a0Japan\u2019s total LNG imports for the fiscal year ended March 31 were down 6.2 percent<\/a>\u00a0as compared to the previous fiscal. With the country bringing in a total of 83.571 million tonnes of LNG for the 12-month period.<\/p>\n

Here\u2019s the most critical point. This was the first time in six years that Japanese LNG demand has fallen year-on-year.<\/p>\n

That\u2019s a crucial data point for the global LNG market. With rampant Japanese demand having been one of the major drivers of positive sentiment \u2014 and resulting business expansions \u2014 in the industry during recent years.<\/p>\n

As the chart below shows, much of that ramp up in LNG demand came following the Fukushima incident in 2011. We can see how nuclear power generation (yellow bars) went to zero after 2011 \u2014 and natural gas use (red bars) jumped, along with coal (black).<\/p>\n

\"\"<\/p>\n

Japan\u2019s use of natural gas (red) spiked after the Fukushima incident in 2011<\/em><\/p>\n

But with Japanese nuclear plants now coming back online, it appears that Japan\u2019s rush for natural gas is over. A fact that had been strongly suggested by LNG prices such as the Platts Japan-Korea Marker \u2014 which has fallen to as low as $4.25\/MMBtu recently, from as high as $20 back in 2012\/13 when Japanese imports were surging.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n

 <\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

This Six-Year Running Oil And Gas Trend Just Reversed Itself The U.S. Senate this week\u00a0approved a bill\u00a0to speed permitting of new liquefied natural gas (LNG) export facilities. Just as news from one of the world\u2019s most important LNG consumers shows the market isn\u2019t what it used to be. The place is Japan. Where statistics released […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[12739,1714,1190,1729,5332,1237],"class_list":["post-20167","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-dave-forest","tag-liquified-natural-gas","tag-lng","tag-oil-and-gas-industry","tag-oilprice-com","tag-us-senate"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/20167","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20167"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/20167\/revisions"}],"predecessor-version":[{"id":20168,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/20167\/revisions\/20168"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20167"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20167"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20167"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}