Platts: Japan Tepco's LNG Spot Procurement Falls 90% on Year to 130,000 mt in Apr-Sep

Japan's Tokyo Electric Power Co bought 130,000 mt of LNG via spot trade, down nearly 90% on year, and 2.59 million mt of LNG via short-term contracts over April-September this year, a spokesman for Tepco said Friday.

Tepco's spot and short-term procurement represents 25.4% of its LNG consumption of 10.696 million mt for the first half of fiscal year 2015-2016 (April-March).

Over April-September 2014, Tepco bought 1.28 million mt of LNG spot cargoes and 2.71 million mt of LNG via short-term contracts, accounting for 35.1% of its overall LNG consumption of 11.369 million mt.

The year-on-year fall in spot and short-term purchases underline Tepco's continued high inventory and dwindling additional LNG demand. A slow economic growth, rising solar power and intense competition in the downstream market have contributed to dent Tepco's LNG demand. MORE