Japan Oil & Gas Q1 2019
While Japan will continue to remain a global refining powerhouse, aggressive cutbacks in refining capacity and a gradualshift away from oil-based fuels will weigh on Japan's refined fuels exports in the long run. Japan will remain the largest LNG buyer inthe world through to 2027. We recently increased our gas consumption outlook throughout our forecast period owing to anincrease in gas power generation forecasts by our Power team. A slowing nuclear revival, investment in renewables and heightenedrisks for coal project cancellations allow gas to remain dominant in the Japanese power mix.
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