AsiaLNG Terminals

Japan’s spot LNG prices continue to rise

By LNG Prime Staff
Japan's spot LNG prices continue to rise
Senshu Maru at Japan's Chita LNG terminal in June 2019 (Image: JERA)

Japanese spot LNG cargo prices increased again 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 November stood at $6.8/mmBtu, the highest this year, data released by the Ministry of Economy, Trade and Industry reveals.

This compares to $6.0/mmBtu in October that also marked a yearly record. There is no yearly comparison as METI didn’t provide the data in 2019 due to a lack of spot shipments.

However, the arrival-based spot price of $6.50/mmBtu increased both on month and year-on-year.

Last month’s arrival-based price stood at $4.90/mmBtu while $5.50/mmBtu was recorded in November 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.

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