Japan's Institute of Energy Economics (IEEJ) projected domestic demand for LNG will have two record-high years back to back with 90.2 million metric tons in the year ending March 2014, with an anticipated increase of 1 percent in March 2015.
"These growth numbers for natural gas and coal are not marginal figures if you think about Japanese energy supply," Akira Yanagisawa, manager for IEEJ's energy demand, supply and forecast analysis group, told reporters.
After Japan began shutting down all of its nuclear power generation capacity in 2011, the country has exhibited greater demand for LNG to compensate. In 2012, Japan consumed about 37 percent of the world's LNG, according to the U.S. Energy Information Administration. The EIA said a third of the country's LNG imports are sourced from countries in Southeast Asia.
The IEEJ aims to restart up to 16 nuclear reactors by the end of March 2015, according to Platts.