Japan’s METI to stop publishing spot LNG price data

Japan’s Ministry of Economy, Trade and Industry said on Friday it would stop publishing its monthly data on spot LNG prices.

METI has been providing contract-based and arrival-based spot LNG price data since March 2014.

“We discontinued making spot LNG price statistics in March 2021,” METI said in a statement on its website. METI added it would not update the content after June.

The ministry did not provide any additional information.

JOGMEC to provide spot data

On the other side, Japan Oil, Gas and Metals National Corporation (JOGMEC) said in a separate statement on Friday the firm started publishing monthly spot LNG prices for delivery to Japan.

“From April 2021, JOGMEC conducts a survey on spot LNG prices for delivery to Japan with the cooperation of companies that are end-consumers of spot LNG and publishes monthly average spot LNG prices on the website,” the firm said.

The average contract-based price for spot LNG cargoes shipped to Japan in April reached $8.30/mmBtu, JOGMEC said, but it did not provide data for arrival-based price due to lack of transactions.

Like METI, JOGMEC will exclude cargo deals linked to a particular price index such as the US Henry Hub, the firm said.

In addition, JOGMEC said it would release the next publication on June 9.

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