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.

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