Japan Buys Itochu LPG

State-run Japan Oil, Gas and Metals National Corp (JOGMEC) said on Thursday it had bought liquefied petroleum gas (LPG) from Itochu Corp to store in its national reserves.

JOGMEC on Tuesday bought 22,000 tonnes of propane for the stockpiling base in Kurashiki in Okayama prefecture, for delivery until Aug. 12.

JOGMEC said in a statement on Thursday it would not disclose the price.

JOGMEC last month bought 44,000 tonnes of LPG for Namikata national LPG stockpiling base in Ehime prefecture.

Japan, which has five national LPG stockpiling bases with a total capacity of 1.5 million tonnes, plans to increase stockpiles to full capacity by the end of March 2018.

Japan's trade ministry last July aimed to buy 198,000 tonnes of LPG during the fiscal year that started on April 1 as part of goals to reach the full capacity.

Reporting by Osamu Tsukimori