SINGAPORE (ICIS)–Record-high temperatures have pushed up power demand, which could prompt Japanese power utilities back in the spot market for additional LNG volumes.
The weather outlook indicates the hottest temperatures may have passed for now, after peaking at 36C in Tokyo on 8 July. However, high probability of above-average temperatures remains through to the first half of August.
A sustained heat wave would like drain LNG storage and trigger restocking demand in the autumn. Preliminary generation data for the first ten days of July indicates higher gas-fired generation compared to last year and relatively sluggish coal dispatch.
Published by: www.icis.com
Joachim Moxon
11-Jul-2024
