JAPAN DATA: LNG inventory extends rise, but remains below 5-year-average

Japan's LNG stocks held by major power utilities rebounded 2.2% from a week ago to 1.9 million mt on Oct. 12, the Ministry of Economy, Trade and Industry said Oct. 15.

The stocks rose for two consecutive weeks, but they remained below the five-year average of 2.03 million mt.

The LNG stocks were 3.3% higher than at the end of October 2024, when the stocks stood at 1.84 million mt, according to METI data.

METI revised the stocks as of Oct. 5 to 1.86 million mt from 1.87 million mt.

Japan's utilities are inactive in the spot market as they have already completed winter procurement, Asian sources said.

Platts, part of S&P Global Energy, assessed November JKM, the LNG benchmark for North Asia, at $10.735/MMBtu on Oct. 14, declining for three consecutive days, reflecting weak demand across Asia.