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.
Similarly, Tohoku Electric did not procure any spot cargoes but purchased 310,000 mt of additional LNG through short-term contracts in the six months to September, a spokesman for Tohoku said this week.
Tohoku Electric consumed 1.86 million mt of LNG and procured 1.98 million mt of LNG in total in the six months to September.
During the April-September period last year, Tohoku Electric bought 420,000 mt of additional LNG through spot and short-term contracts, although Tohoku Electric did not disclose further details.
In the same period last year, Tohoku Electric consumed 1.88 million mt of LNG and procured 1.87 million mt, according to the spokesman.
