Japan’s spot LNG prices get a boost after August drop

Japanese spot liquefied natural gas cargo prices started to pick up again in September after a drop in August.

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

They started to rise in June and the contract-based price even increased year-on-year in July but declined in August both on month and on year.

However, data released by the Ministry of Economy, Trade and Industry shows that both arrival-based and contracted price increased in September when compared to the previous month.

The average contract price for spot LNG cargoes shipped to Japan in September stood at $4.50/mmBtu.

This is a rise compared to $3.40/mmBtu in August but a decline looking at $5.40/mmBtu recorded in September 2019.

METI’s data shows the arrival-based spot price stood at $3.40/mmBtu. This marks a rise from last month’s $2.60/mmBtu but its down from $4.90/mmBtu recorded in September 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

Stena Bulk sells its last LNG carrier

Swedish shipping firm Stena Bulk has sold its last liquefied natural gas (LNG) carrier to an undisclosed Asian buyer. The...

Shell launches largest bio-LNG plant in Germany

A unit of LNG giant Shell has launched what it says is the largest bio-LNG production plant in Germany. The...

Oman LNG, Turkey’s Botas seal 10-year SPA

State-owned producer Oman LNG has signed a 10-year sales and purchase agreement with Turkey’s state-owned natural gas and LNG...

More News Like This

Japan’s JOGMEC publishes spot LNG price for first time in 2024

State-run Japan Organization for Metals and Energy Security (JOGMEC) has published the first contract-based monthly spot LNG price since...

Japan’s January LNG imports decline

Japan’s liquefied natural gas (LNG) imports dropped in January compared to the same month last year, according to the...

Japan’s LNG imports down 8.1 percent in 2023

Japan’s liquefied natural gas imports dropped 8.1 percent in 2023, and the country lost its position as the world's...

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...