Japan’s spot LNG price hits 2020 high

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

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.

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.

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

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.

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.

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.

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...