Japan’s Tokyo Gas to add LNG carrier in 2026

: Freight, Natural gas
24/03/05

Japanese gas utility Tokyo Gas' wholly-owned subsidiary Tokyo LNG Tanker has signed a long-term charter agreement with domestic shipping firm Mitsui OSK Line (Mol) to operate a new LNG carrier.

South Korean shipbuilder Hanwha Ocean will build the 174,000m³ membrane-type vessel at its Geoje shipyard, and it will be delivered in 2026. The ship is equipped with German manufacturer MAN Energy Solutions' latest engine, which is designed to use boil-off gas in addition to conventional fuel oil, to improve fuel efficiency and reduce greenhouse gas emissions.

The vessel will be Tokyo LNG Tanker's 11th LNG carrier under long-term charter agreements. Tokyo Gas intends to secure the up-to-date high-performance ship to boost trading volumes and to import LNG.

Tokyo Gas has set a goal to achieve 20mn t of natural gas handling by the April 2030-March 2031 fiscal year, including 5mn t of LNG trading. But it also withdrew from four of its Australian LNG projects in 2022 by selling its entire stake to US energy investment firm EIG. Tokyo Gas said there would be no impact on its LNG procurements following the sale of its LNG assets, as the company can maintain continuing term contracts with those divested LNG projects.

By Nanami Oki

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25/01/09

Venezuela opposition leader held, Gonzalez warned

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Mexico inflation ends 2024 near 4-year low

25/01/09

Mexico inflation ends 2024 near 4-year low

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Denmark invites applications for CO2 storage permits

25/01/09

Denmark invites applications for CO2 storage permits

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CHS grows STL capacity with new terminal deal

25/01/08

CHS grows STL capacity with new terminal deal

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German gas demand edges up in 2024

25/01/08

German gas demand edges up in 2024

London, 8 January (Argus) — German gas demand remained largely unchanged on the year in 2024, as a recovery in industrial and power-sector burn was almost completely offset by lower residential and commercial consumption amid mild weather. Germany used about 2.285 TWh/d of gas in 2024, up by 6.6 GWh/d from 2.278 TWh/d in 2023, according to data from market area manager THE ( see yearly graph ). But total gas use remained below the 2018-21 average of 2.7 TWh/d, with the drop in wholesale prices from 2022-23 not supporting a rebound in aggregate consumption. Residential and commercial demand — largely for heating purposes — fell by 5pc year on year in 2024 to 894 GWh/d. Household gas prices remain high and are about double those in 2016-21, according to data from grid regulator Bnetza, which may have weighed on gas use by households and small businesses. Mild weather — especially in the first quarter of the year — also pushed down gas demand from households and small businesses. 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A return of temperature-adjusted heating patterns to pre-crisis levels as well as slow structural changes, such as plummeting heat pump sales , led Agora to urge for more measures in heat transition policy to drive down gas demand from the built environment. Industrial gas demand up by 7pc despite economic woes German gas demand for use in industrial processes rose on the year, according to Argus estimates, supported by a slight recovery in energy-intensive industry. German industry used about 737 GWh/d for industrial processes in 2024, up from 688 GWh/d in 2023 but well below the 2018-21 average of 877 GWh/d, according to Argus analysis. While German GDP stagnated in 2024 and industrial production continued its downward trend, output from energy-intensive industries such as the chemicals sector recovered slightly, especially in the first half of the year. 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Gas-fired generation increased year on year despite renewables making up a record 62pc of German power generation. Fossil fuel generation was used to meet 17.1GW of power demand in 2024, down from 19.3GW in 2023. While overall power demand remained roughly unchanged from a year earlier, Germany lifted power imports, pushing down domestic generation ( see power mix graph ). But gas increased its share of the thermal mix, partly on lignite and coal plant closures as Germany's coal phase-out progresses. Gas prices at the bottom of the coal-to-gas fuel-switching range for most of the year until the fourth quarter, even outperforming lignite plants in January-July, supported the call on gas for dispatchable generation. Recent gas price rises have put coal and lignite firmly ahead of gas in the power-generation merit order for all forward periods until 2026, suggesting scope for the share of gas in thermal output to be lower this year. By Till Stehr German power generation mix by year GW TTF versus LPG prices, energy equivalence basis $/mn Btu Monthly year-on-year change in gas demand by sector GWh/d German gas demand by year TWh/d Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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