Japan’s 2021 crude imports seen falling 5-10% on year amid COVID-19: PAJ chief
Japan’s crude oil imports will likely drop 5-10% on the year in 2021, without a recovery from the coronavirus pandemic, Petroleum Association of Japan President Tsutomu Sugimori said Jan. 21, extending the decline after falling to the lowest level in decades last year.
“When considering our crude imports henceforth, it would not increase, judging from domestic [oil] demand of about 90-95% [of a year ago level],” Sugimori told an online press conference. “Instead it would drop by about 5-10%.”
“Should the current situation [over the coronavirus pandemic] continue, it is unlikely we would take more crude oil from a year ago,” he added.
By Reuters Staff
2 Min Read
TOKYO, Jan 15 (Reuters) - Japan’s tight power market will remain unpredictable as temperatures could drop again and there are risks of technical glitches at aged power plants and a further drop in fuel inventories, the head of utilities industry said on Friday.
This month Japanese utilities have called on the public to save power as electricity demand for heating surged with frigid temperatures gripping much of the country, sending power companies scrambling for extra supplies, especially liquefied natural gas (LNG), to fuel power stations.
“Electricity demand has soared since late last year due to serious cold storms,” Kazuhiro Ikebe, the chairman of the Federation of Electric Power Companies of Japan (FEPC), told a news conference.
Severe cold spells and surging power demand are tightening Japan’s power supply amid declining LNG stocks and low renewable output, Minister of Economy, Trade and Industry Hiroshi Kajiyama said Jan. 12, with utilities undertaking emergency fuel procurement. “Amid severe cold weather, power demand is increasing significantly compared to levels in normal years,” Kajiyama said at .
The Federation of Electric Power Companies of Japan has called for cooperation for power saving as the supply-demand balance becomes tight amid a cold snap