In 2016 deliveries of the US liquefied natural gas (LNG) to Japan will cover 20% of the country’s requirements in gas, Siniti Kihara, Director of the Japanese International Department for Natural Resources and Energy under the Ministry of Economy, Industry and Trade, told journalists.
He said in 2012-2013 LNG market was very narrow, but the volume of supply grows rapidly. The LNG deliveries from the US will start in 2016 and they will total about 17 million tons a year, which will cover 20% of the current requirements of Japan in gas.
“The US gas will be very cheap. Its price will be about 30% less, than Japan pays now,” Kihara added.
Japanese official believes that this will help the country to overcome the energy crisis it has faced after the accident on the Fukusima-1 nuclear station in 2011 and will also reduce costs for LNG import, which increases by 24% since 2011.
Japan is the biggest LNG importer in the world, 10% of LNG import to Japan comes from Russia (8 million tons or 80% of LNG produced by Russia).
According to the Japanese Finance Ministry, last year the country bought liquefied natural gas to the record amount of 7 trillion yen ($64.8 billion at the current rate), having spent twice more, than three years ago, reported Russia News Agency TACC.