Japan’s spot LNG price climbs in May

Japanese spot LNG price rose in May when compared to the month before, according to state-run Japan Oil, Gas and Metals National Corp (JOGMEC).

The average contract price for spot LNG cargoes shipped to Japan in May reached $9.60/mmBtu, JOGMEC said in its second-ever monthly report. This compares to $8.30/mmBtu last month.

It did not provide data for arrival-based price.

To remind, JOGMEC launched these reports after Japan’s Ministry of Economy, Trade and Industry said last month 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.

The ministry’s data shows that Japan’s contract-based price had reached $2.20/mmBtu in May 2020 while the arrival-based price was at $2.60/mmBtu.

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