JAPAN DISASTER: Chubu to reduce LNG purchases in 2011/12

25 March 2011 08:13  [Source: ICIS news]

SINGAPORE (ICIS)--Japan's Chubu Electric Power (Chubu) plans to reduce its liquefied natural gas (LNG) purchases in the next fiscal year, but will buy more crude and fuel oil products, a company official said on Friday.

For the 2011/12 fiscal year, which starts on 1 April, Chubu is expected to buy 8.59m tonnes of LNG, a decrease of about 32% from its expected purchase volume of 12.65m tonnes for the current fiscal year ending 31 March.

A key reason for the decrease was the restart of the Hamaoka Nuclear Power Plant's 1.1GW No 4 and 1.2GW No 5 reactors, which were shut down in 2009 following the Suruga Bay earthquake, the official said.

Chubu plans to buy a total of 740,000 kilolitres (4.7m bbl) of crude and fuel oil in the next fiscal year, an increase of about 21% from the previous year.

(1 kilolitre = 6.29 bbl)

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By: Leslie Tan

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