Japan's Gas Demand to Hit Record in 2014-15

Japan’s natural gas usage will likely hit record in fiscal 2014-15 (April-March) driven by strong domestic power generation and city gas demand, Platts reported Thursday citing the Institute of Energy Economics (IEEJ), Japan.

Domestic demand for natural gas in Japan is forecast to stand at 91.1 million mt in the year to March 2015, rising 1% from an expected 90.2 million mt for the year ending March 2014 and hitting record high two years in a row, the IEEJ said.

The LNG import CIF price is expected to slip to $15/MMBtu for fiscal 2014-15 from a forecast $16/MMBtu for the current year ending in March, the IEEJ said, reported Platts.

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