World's top LNG importer looks to sell surplus

London

JAPANESE liquefied natural gas (LNG) buyers now have to hone a new skill - selling.

After decades of negotiating with suppliers for the lowest possible prices, the world's top importer is moving from customer to competitor as it seeks to sell surplus stock.

Japan is unlikely to shift vast volumes off its books, but it is delaying or diverting some shipments after overestimating gas needs. The moves add pressure to a global market that is currently facing a glut.

"These end users that have been conservatively trying to buy LNG at the best possible price, these people now have to morph into sellers and optimisers, which is definitely not in their DNA," said a trader, estimating Japan may need to resell about…