AsiaLNG Terminals

Japan’s spot LNG prices remained high in February

By LNG Prime Staff
Japan’s spot LNG prices remained high in February
For illustration only; Senshu Maru at Chita LNG terminal (Image: JERA)

Japanese spot LNG prices remained at high levels in February following record numbers logged in January due to a cold snap in Asia.

The average contract price for spot LNG cargoes shipped to Japan in February reached $12.7/mmBtu, data released by the Ministry of Economy, Trade and Industry reveals.

This marked a decline compared to the previous month’s record price of $18.5/mmBtu, but it increased almost four times than $3.40/mmBtu recorded in the same month last year.

Moreover, the arrival-based spot price surged to $16.3/mmBtu, the second-highest ever recorded. Only April in 2014 was higher, while May the same year recorded the same price, METI’s data shows.

Compared to $5.50/mmBtu in February last year, the arrival-based price almost tripled.

To remind, 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

LNG as Fuel

Yang Ming books LNG-powered containerships in South Korea

Taiwan’s Yang Ming Marine Transport has decided to order LNG dual-fuel container vessels from South Korea's Hanwha Ocean as part of its ongoing fleet optimization plan.
Contracts and Tenders

Sabah to take stake in Petronas’ third FLNG

SMJ Energy, owned by the Sabah government, has signed a heads of agreement with Malaysian energy giant Petronas to take a 25 percent stake in the latter's third floating LNG production unit.
LNG Terminals

Japan’s LNG imports drop in June

Japan’s liquefied natural gas (LNG) imports dropped by 2.8 percent in June compared to the same month last year, according to provisional data released by the country’s Ministry of Finance.

More News Like This

LNG Terminals

Japan’s LNG imports drop in June

Japan’s liquefied natural gas (LNG) imports dropped by 2.8 percent in June 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...
LNG Terminals

Japan’s January LNG imports decline

Japan’s liquefied natural gas (LNG) imports dropped in January compared to the same month last year, according to the...

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