Japan Gas Association expects LNG prices to rise, tracking oil, if Strait of Hormuz blocked [Reuters]
TOKYO GAS CO LTD UNSP/ADR (TKGSY)
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Source: Reuters
of a blockade in the Strait of Hormuz, but expects gas prices would rise due to higher oil prices, its chairman said on Wednesday. Iran has threatened to close the Strait of Hormuz if it deems necessary to protect itself from Israel. Iran launched missiles and drones at Israel on April 13 in what it said was retaliation for Israel's suspected deadly strike on its embassy compound in Damascus on April 1, but almost all were shot down. Israel has said it will retaliate. "Even if the Strait of Hormuz were to be closed, there would be no major quantitative impact on Japan, or on city gas providers in particular, as we buy only a few percent of LNG from Qatar," Takashi Uchida, the chairman of the Japan Gas Association, told a news conference. He cited Japan, the world's second-biggest importer of the super-chilled fuel, imports only 4-5% of the nearly 70 million metric tons of LNG from Qatar. Report this ad The Strait of Hormuz runs between the Persian Gulf and Gulf of Oman and
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