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

Delfin plans to take FID on first floating LNG producer in Q2

Delfin Midstream, the developer of a floating LNG export project in the Gulf of Mexico, is expecting to take...

ExxonMobil working on larger Rovuma LNG export project in Mozambique

US energy giant ExxonMobil has boosted the capacity of the planned Rovuma LNG onshore terminal in Mozambique and is...

Mexico Pacific seals another LNG supply deal with Shell

A unit of LNG giant Shell has signed another long-term deal to buy liquefied natural gas from Mexico Pacific,...

More News Like This

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...

Japan’s November LNG imports drop

Japan, the world’s top liquefied natural gas importer this year, reported lower LNG imports in November while the import...

Japan’s October LNG imports up 10 percent, prices surge

Japan, the world’s top liquefied natural gas importer this year, reported higher LNG imports in October despite a surge...