Japan will continue to dominate Asian LNG picture

Despite slow demand growth, Japan, as the world's LNG importer, will remain formidable overall and play a significant role in the development of Asian contract terms.This is particularly true now because the power industry, which accounts for 66% of Japan's natural gas consumption, faces public opposition to nuclear energy. The nuclear problems have resulted in uncertainties over the country's future energy mix and will likely benefit gas demand growth in the long-run.With that said, it is interesting to note that Japan actually imported less LNG in 2002 (53.5 million tonnes/year; tpy) than in 2001 (55.1 million tpy) and even 2000 (53.7 million tpy). This is in spite of foreca...

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