AsiaLNG Terminals

Japan’s spot LNG prices decline in August

By Mirza Duran
Japan’s spot LNG prices decline in August
For illustration purposes only (Image: Tokyo Electric Power)

Japanese spot LNG cargo prices dropped again in August after slight increases in the previous two months.

The effects of the Covid-19 coronavirus pandemic have weighed down on Japan’s spot LNG prices pushing them to record lows in the March-May period.

They started to pick up in June and the contract-based price even increased year-on-year in July but declined again in August.

Data released by the Ministry of Economy, Trade and Industry shows that both arrival-based and contracted price declined last month.

The average contract price for spot LNG cargoes shipped to Japan in August stood at $3.40/mmBtu.

This compares to $4.20/mmBtu in July and $5.30/mmBtu recorded in August 2019.

METI’s data shows the arrival-based spot price stood at $2.60/mmBtu, down both from last month’s $4.10/mmBtu and $5.50/mmBtu recorded in July 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

Sponsored Content

Abaxx sees significant volume growth in its LNG futures

Abaxx Commodity Futures Exchange, a wholly owned subsidiary of Abaxx Technologies (CBOE:ABXX) has seen significant volume growth in its physically deliverable LNG futures during the past summer months, according to Abaxx Exchange Chief Commercial Officer Joe Raia.
Vessels

Another steam LNG carrier sold for demolition

An NYK-managed steam liquefied natural gas (LNG) carrier has been sold for demolition, according to brokers.
Research and Development

GTT develops new LNG fuel tank

French LNG containment giant GTT has developed a new cubic-shaped LNG fuel tank for commercial vessels, with a particular focus on LNG-fueled container vessels.

More News Like This

LNG Terminals

Japan’s LNG imports drop in July

Japan’s liquefied natural gas (LNG) imports dropped by 6.3 percent in July 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 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 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.
LNG Terminals

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.

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