In 2022, liquified natural gas (LNG) cost approximately 18.4 U.S. dollars per million British thermal units in Japan. The country imported the majority of its natural gas supply from overseas.
Natural gas production in Japan
Since Japan has limited natural resources, it heavily depends on imports for its primary energy supply. Only a small amount of the total supply of natural gas energy is produced domestically in areas such as Hokkaido, Chiba, or Niigata Prefecture. The natural gas produced in the around 60 oil and natural gas mines operating in Japan is mainly wet and dry natural gas. Minami-Kanto natural gas fields dissolved in water, which lies across Chiba Prefecture and surrounding prefectures, yields close to 20 percent of the total production of natural gas in the country. The saltwater in the field also includes a great amount of iodine. Japan is hence one of the leading countries regarding iodine production.
LNG imports
Apart from the two percent of in-house natural gas production, the rest of the natural gas supply in Japan originates from liquefied natural gas (LNG) imports from countries like Australia, the state of Qatar, Malaysia, and Indonesia.
Japan imported over 71 megatons of LNG in recent years, making the country the world’s largest importer of LNG. Natural gas and LNG accounted for over 23 percent of the total primary energy supply in Japan, indicating that natural gas and LNG are some of the most essential resources the country requires.
Annual liquefied natural gas (LNG) price per million British thermal unit in Japan from 2013 to 2022 with a forecast until 2025
(in U.S. dollars)
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World Bank. (October 26, 2023). Annual liquefied natural gas (LNG) price per million British thermal unit in Japan from 2013 to 2022 with a forecast until 2025 (in U.S. dollars) [Graph]. In Statista. Retrieved September 01, 2024, from https://www.statista.com/statistics/252789/lng-prices/
World Bank. "Annual liquefied natural gas (LNG) price per million British thermal unit in Japan from 2013 to 2022 with a forecast until 2025 (in U.S. dollars)." Chart. October 26, 2023. Statista. Accessed September 01, 2024. https://www.statista.com/statistics/252789/lng-prices/
World Bank. (2023). Annual liquefied natural gas (LNG) price per million British thermal unit in Japan from 2013 to 2022 with a forecast until 2025 (in U.S. dollars). Statista. Statista Inc.. Accessed: September 01, 2024. https://www.statista.com/statistics/252789/lng-prices/
World Bank. "Annual Liquefied Natural Gas (Lng) Price per Million British Thermal Unit in Japan from 2013 to 2022 with a Forecast until 2025 (in U.S. Dollars)." Statista, Statista Inc., 26 Oct 2023, https://www.statista.com/statistics/252789/lng-prices/
World Bank, Annual liquefied natural gas (LNG) price per million British thermal unit in Japan from 2013 to 2022 with a forecast until 2025 (in U.S. dollars) Statista, https://www.statista.com/statistics/252789/lng-prices/ (last visited September 01, 2024)
Annual liquefied natural gas (LNG) price per million British thermal unit in Japan from 2013 to 2022 with a forecast until 2025 (in U.S. dollars) [Graph], World Bank, October 26, 2023. [Online]. Available: https://www.statista.com/statistics/252789/lng-prices/