AsiaLNG Terminals

Japan’s spot LNG price hits 2020 high

By Mirza Duran
Japan's spot LNG price hits 2020 high
For illustration purposes only (Image: Tokyo Electric Power)

Japanese spot LNG cargo prices increased to their highest point this year following record lows in the March-May period due to Covid effects.

The average contract price for spot LNG cargoes shipped to Japan in October stood at $6.0/mmBtu, the highest this year, data released by the Ministry of Economy, Trade and Industry reveals.

This compares to $4.50/mmBtu in September but also shows a year-on-year increase looking at $5.50/mmBtu recorded in October 2019.

Furthermore, METI’s data shows the arrival-based spot price stood at $4.90/mmBtu.

This marks a rise from last month’s $3.40/mmBtu but it’s down from $5.40/mmBtu recorded in October last year.

The ministry surveys only spot LNG cargoes purchased by Japanese utilities and other importers.

It excludes cargo deals linked to a particular price index such as the US Henry Hub.

Most Popular

Contracts and Tenders

Technip Energies wins contract for Eni’s Coral Norte FLNG

France-based LNG engineering giant Technip Energies has won a contract for preliminary work on Eni's second FLNG project in Mozambique, Coral Norte (Coral North).
LNG as Fuel

Victrol: LNG London hits bunkering milestone

The Shell-chartered inland bunkering vessel LNG London, owned by a joint venture of Belgium's Victrol and France's Sogestran, has reached a new operational milestone.
LNG Terminals

Atlantic LNG shipping rates dip, European prices up

Atlantic spot LNG shipping rates decreased this week, marking the largest week-on-week decline since January.

More News Like This

LNG Terminals

Japan reports lower May LNG imports

Japan’s liquefied natural gas (LNG) imports dropped by 4.3 percent in May compared to the same month last year, according to provisional data released by the country’s Ministry of Finance.
LNG Terminals

Japan’s April LNG imports climb

Japan’s liquefied natural gas (LNG) imports rose by 1.7 percent in April compared to the same month last year, according to provisional data released by the country’s Ministry of Finance.
LNG Terminals

Japan boosts LNG imports in May

Japan’s liquefied natural gas (LNG) imports rose in May for the second month in a row, according to the...
LNG Terminals

Japan’s JOGMEC publishes spot LNG price for first time in 2024

State-run Japan Organization for Metals and Energy Security (JOGMEC) has published the first contract-based monthly spot LNG price since...

2025. © All rights reserved. LNG Prime LLC. 447 Broadway, New York, NY 10013, USA