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

Hoegh LNG says Australian FSRU contract confirmed

Floating LNG player Hoegh LNG said on Friday that Australian Industrial Energy (AIE) has confirmed a long-term FSRU charter...

Tellurian: early works progress at Driftwood LNG site

US LNG firm Tellurian and compatriot engineer Bechtel are moving forward with early site works for the Driftwood LNG...

Cheniere takes FID on Corpus Christi LNG expansion project

US LNG exporting giant Cheniere said on Wednesday it has taken a financial investment decision on Stage 3 expansion...

More News Like This

METI says Japan LNG stocks at highest level in five years

Japan's liquefied natural gas (LNG) inventories, held by the country's major power utilities, reached the highest level in five...

Asian spot LNG price continues to surge

Asian spot LNG price continues to rise and it is now trading above $35/MMBtu, according to S&P Global Platts. To...

Asian spot LNG price hits record high

Asian spot LNG price surged to a record high on Thursday, boosted by strong winter restocking demand among Asian...

Novatek inks hydrogen, ammonia deals with Japan

Russian LNG producer Novatek is teaming up with the Japan Bank for International Cooperation and the Ministry of Economy,...