BMI View: Japan’s consumption of imported oil and natural gas has increased as a result of nuclear power generation losses in the wake of the 2011 earthquake and tsunami. Over the longer term, a reassessment of energy strategy means nuclear will play a less prominent role and, inevitably, gas will have to make up part of the shortfall. This suggests Japan will become a still bigger player in global liquefied natural gas purchasing. Furthermore, the country is likely to ramp up its investments in overseas oil and gas assets as well as devote more energy to finding resources back at …
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