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Japanese power firms record weekly decline in natural gas stocks

Baird Maritime · last updated

Qatar, Japan’s biggest LNG supplier in the Middle East, has declared force majeure on LNG shipments. Overall, Japan holds just under four million tonnes of LNG in inventories, METI said on Tuesday, equal to around one year of supplies shipped through the Strait of Hormuz.

As the demand for electricity and gas in Japan is expected to be relatively low in the coming months due to seasonal factors, METI does not see immediate risks to the stable supply of gas and electricity as of now, Kenji Yamada, state minister of METI, said on Tuesday.

(Reporting by Katya Golubkova; Additional reporting by Yuka Obayashi; Editing by Harikrishnan Nair)

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