Japan Sets LNG Forum in 3Q
Japan, which has since expanded its energy mix in a bid to rely less on nuclear power, has scheduled a public forum of producers and consumers of liquefied natural gas (LNG) in Tokyo on September.
The LNG Producer-Consumer Conference, believed to be the world's first LNG-focused meeting of producers and consumers, targets 500 delegates from some 100 national and global oil and gas companies, including ministers and other high-ranking officials from some 20 producing and consuming countries, Platts reported, quoting an unidentified source.
Now totally without nuclear power, Japan shut down its last working nuclear reactor in early May as a result of the March 2011 earthquake and tsunami that devastated and led to the eventual meltdown of reactors at the Fukushima Dai-ichi plant.
Since then, Japan has increased its imports of the chilled LNG to record levels to maintain and anchor its energy requirements. Although it has no plans to permanently exit from the use of nuclear energy, Japan is working on diversifying its energy mix.
This mind shift sends a signal to LNG producers to brace for more production from Japan, now the world's biggest LNG importer.
In the forthcoming event, Japan wants the forum to serve as channel to tackle a number of issues, including LNG prices, supply and demand, floating LNG technology, among others, Platts reported.
Japan would present during the forum its internal LNG demand projections from the present through 2030.
Japan also hopes to meet and possible forge partnership agreements with other LNG importing countries, such as South Korea.
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