Cheniere Energy, Japan Oil Release: Your Daily Energy News

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Energy Market highlights gathered by Industrial Info and IIR Energy

CRUDE OIL
Japan to Release 6 Million Barrels of Oil from Reserves - The Japanese industry ministry said on Friday it will release 6 million barrels of oil from privately held reserves as part of its contribution to a second round of the International Energy Agency's (IEA) coordinated release to calm crude oil prices. Japan will release the petroleum, equivalent to about three days of domestic consumption, by allowing local refiners to lower their mandatory stockpile level in private reserves by three days, to 63 days of domestic demand, from April 16 and October 8. (Reuters)

NATURAL GAS
Cheniere Energy: High Natural Gas Prices Will Spur Production in U.S. - Top U.S. liquefied natural gas (LNG) producer Cheniere Energy (Houston, Texas) on Thursday said surging U.S. natural gas prices reflect past underinvestment followed by "a demand shock" as Europe seeks to wean itself from Russian gas, and that high prices will spur more production that will benefit consumers. "We think the resource is there and our ability to attract that resource and bring it into the right markets will ultimately result in a more attractive domestic gas price," Executive Vice President Anatol Feygin said in an interview with Reuters. (Reuters)

LNG
Japan to Boost Investment Role in Upstream LNG Projects - Japan plans to step up its investment role in upstream projects for LNG to spur new development and boost fuel offtake by its companies, the industry minister said on Friday. Investment in new LNG development worldwide has dropped significantly as a global trend toward decarbonization grows, although demand, especially in Asia, had risen, even before the Ukraine crisis, Koichi Hagiuda said. "Russia's invasion of Ukraine has intensified competition for purchasing LNG, raising concerns about stable supply of the fuel for Japan," he told a news conference. (Reuters)

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