Japan buys 24,150 tonnes of LPG

JOGMEC, the state-run Japan Oil, Gas and Metals National Corp, has bought liquefied petroleum gas (LPG) for storage in its national reserves via tender, according to Reuters.

JOGMEC was seeking between 23,000 tonnes and 24,150 tonnes of propane for a stockpiling base in Kurashiki in western Japan for delivery until March 15.

Japan, which has five national LPG stockpiling bases with a total capacity of 1.5 million tonnes,
had 1.15 million tonnes of LPG stored by March-end last year.

The government plans to increase the stockpiles to around 1.35 million tonnes by the end of March this year, and around 1.5 million tonnes by March-end 2018.

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