Qatar Petroleum Hopes for Greater LNG Trade with Japan

Qatar Petroleum has discussed ways of boosting future cooperation between Japanese customers and partner companies, particularly in the LNG trade.

Company’s CEO Saad Sherida Al-Kaabi discussed the issue during a two-day visit to Japan which concluded on October 15. Al-Kaabi held talks with major Japanese energy companies on enhancing existing cooperation. Qatar Petroleum officials met with representatives of Chubu Electric, Jera, Mitsui, Chiyoda Corporation, Idemitsu, Cosmo Oil, LNG Japan, Mitsui & Co., Marubeni Corporation, and Itohchu, Qatar Petroleum said in a statement.

Meetings were also held with financial institutions such as Bank of Tokyo – Mitsubishi UFJ and Japan Bank for International Cooperation, utility companies such as Tokyo Electric (TEPCO), Kansai Electric, and Tohoku Electric; and other major shipping lines such as NYK Line, MOL and K Line.

Japan is world’s biggest importer of LNG and one of Qatar’s major customers, but the future is looking less certain now, thanks to competition in global markets and Japan's depressed economy.

Doha has delivered more than 2,500 cargoes to Japanese LNG buyers since 1997. Japanese LNG imports have risen since the shut down of nuclear power plants after the great tsunami of 2011. However imports have dropped 6.2% in the fiscal year that ended March 31, 2016 to about 84mn mt. 

Shardul Sharma