Japan’s spot LNG prices continue to rise

Japanese spot LNG cargo prices increased again 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 November stood at $6.8/mmBtu, the highest this year, data released by the Ministry of Economy, Trade and Industry reveals.

This compares to $6.0/mmBtu in October that also marked a yearly record. There is no yearly comparison as METI didn’t provide the data in 2019 due to a lack of spot shipments.

However, the arrival-based spot price of $6.50/mmBtu increased both on month and year-on-year.

Last month’s arrival-based price stood at $4.90/mmBtu while $5.50/mmBtu was recorded in November 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.

- Advertisements -

Most Popular

BP, PetroChina book capacity at Dutch Gate LNG terminal

BP and a unit of PetroChina have agreed to book long-term capacity at the Dutch Gate LNG import terminal,...

TotalEnergies releases Mozambique LNG report

French energy giant TotalEnergies on Tuesday released a report regarding the humanitarian situation in the province of Cabo Delgado,...

LNG carrier Golar Gandria sold for demolition

Floating LNG player Golar LNG has sold its 1977-built LNG carrier, Golar Gandria, for demolition, according to brokers. The 125,000-cbm...

More News Like This

Japan’s LNG imports down 18.7 percent in April

Japan, the world’s top liquefied natural gas importer, reported lower LNG imports in April when compared to the same...

Japan’s LNG imports drop 12 percent in March

Japan, the world’s top liquefied natural gas importer, reported lower LNG imports in March when compared to the same...

Japan’s LNG imports down 10 percent in February

Japan, the world’s top liquefied natural gas importer, reported lower LNG imports in February when compared to the same...

Japan’s LNG imports slightly up in January

Japan, the world’s top liquefied natural gas importer, reported slightly higher LNG imports in January while the import bill...