Japan Buys LPG Cargo for National Reserves

State-run Japan Oil, Gas and Metals National Corp (JOGMEC) on Thursday bought liquefied petroleum gas (LPG) for the country's national reserves via tender, a trade ministry official said.

 

JOGMEC was seeking one cargo with 44,000 to 47,000 tonnes of propane for a stockpiling base in Namikata in Ehime prefecture, for delivery until March 25.

 

JOGMEC in December bought 22,000 tonnes of propane for the national reserves.

 

Japan, which has five national LPG stockpiling bases, plans to increase strategic stockpiles by 200,000 tonnes to around 1.35 million tonnes by the end of March 2017 and raise further to full capacity of 1.5 million tonnes by the end of March 2018.