Japan seeks up to 31 Mt of LPG for national reserves
(Reuters) State-run Japan Oil, Gas and Metals National Corp. (JOGMEC) on Friday issued a tender to buy LPG for storage in its national reserves.
JOGMEC is seeking 30,000 to 31,000 tons of propane for a stockpiling base in Namikata in western Japan for delivery until December 22, the tender document showed. The tender will be held on November 18, with offers to be evaluated the same day.
Japan, which has five national LPG stockpiling bases with a total capacity of 1.5 MMt, had 1.15 MMt of LPG stored at the end of March.
The government plans to increase stockpiles to around 1.35 MMt by the end of March 2017 and around 1.5 MMt by the end of March 2018 amid high dependence on the Middle East for LPG and a risk of supply disruptions.
Reporting by Osamu Tsukimori; Editing by Joseph Radford
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