AsiaLNG Terminals

Japan’s spot LNG price hits 2020 high

By Mirza Duran
Japan's spot LNG price hits 2020 high
For illustration purposes only (Image: Tokyo Electric Power)

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

LNG Terminals

Atlantic LNG shipping rates down, Pacific rates climb

Atlantic spot LNG shipping rates dropped this week, while Pacific rates rose compared to the week before, according to Spark Commodities.
Contracts and Tenders

Sempra Infrastructure’s Port Arthur LNG inks new gas supply deals

Sempra Infrastructure's Port Arthur LNG has signed three new natural gas sale and purchase deals this year, according to DOE filings.
Contracts and Tenders

Inpex: Ichthys LNG workers back new pay deal

Workers at the Inpex-operated Ichthys LNG facilities in Australia’s Northern Territory have backed a new enterprise agreement following months of negotiations over pay and conditions.
spot_img

More News Like This

LNG Terminals

Japan’s LNG imports down 15 percent in May

Japan’s liquefied natural gas (LNG) imports decreased by 15.1 percent in May compared to the same month last year, according to provisional data released by the country’s Ministry of Finance.
LNG Terminals

Japan’s LNG imports down 20.6 percent in April

Japan’s liquefied natural gas (LNG) imports decreased by 20.6 percent in April compared to the same month last year, according to provisional data released by the country’s Ministry of Finance.
LNG Terminals

Japan’s LNG imports up 13.9 percent in March

Japan’s liquefied natural gas (LNG) imports rose by 13.9 percent in March compared to the same month last year, according to provisional data released by the country’s Ministry of Finance.
LNG Terminals

Japan’s LNG imports slightly down in February

Japan’s liquefied natural gas (LNG) imports dropped by 0.9 percent in February compared to the same month last year, according to provisional data released by the country’s Ministry of Finance.