Japan’s spot LNG prices decline in August

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.

- Advertisements -

Most Popular

QatarEnergy officially starts work on giant LNG expansion project

State-owned LNG giant QatarEnergy has officially started building its North Field expansion project, which will raise Qatar's LNG production...

Freeport LNG working to place second LNG jetty back in service

Freeport LNG, the operator of the three-train 15 mtpa liquefaction plant in Texas, is working to secure approvals to...

Shell puts large LNG bunkering newbuild to work in Caribbean

LNG giant Shell has completed the first liquefied natural gas bunkering operation in the Caribbean with the 18,000-cbm bunkering...

More News Like This

Japan’s LNG imports drop 19.9 percent in May

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

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...