AsiaLNG Terminals

Japan’s spot LNG prices remained high in February

By LNG Prime Staff
Japan’s spot LNG prices remained high in February
For illustration only; Senshu Maru at Chita LNG terminal (Image: JERA)

Japanese spot LNG prices remained at high levels in February following record numbers logged in January due to a cold snap in Asia.

The average contract price for spot LNG cargoes shipped to Japan in February reached $12.7/mmBtu, data released by the Ministry of Economy, Trade and Industry reveals.

This marked a decline compared to the previous month’s record price of $18.5/mmBtu, but it increased almost four times than $3.40/mmBtu recorded in the same month last year.

Moreover, the arrival-based spot price surged to $16.3/mmBtu, the second-highest ever recorded. Only April in 2014 was higher, while May the same year recorded the same price, METI’s data shows.

Compared to $5.50/mmBtu in February last year, the arrival-based price almost tripled.

To remind, 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.

Most Popular

Vessels

Golar buys conversion vessel for fourth FLNG

Floating LNG player Golar has agreed to acquire the LNG carrier Grace Dahlia from Japan's NYK Line to convert it into a floating LNG production unit.
LNG Terminals

Cove Point LNG to resume operations after maintenance

Berkshire Hathaway’s unit BHE GT&S is expected to restart its Cove Point LNG export plant in Maryland soon following planned annual maintenance.
LNG Terminals

Equinor says Hammerfest LNG upgrade costs climb further

Costs for Equinor’s Snohvit Future project, which includes upgrading the 4.3 mtpa Hammerfest LNG export facility on Melkoya Island in Norway, have increased further from the original estimates.

More News Like This

LNG Terminals

Japan’s LNG imports drop in July

Japan’s liquefied natural gas (LNG) imports dropped by 6.3 percent in July compared to the same month last year, according to provisional data released by the country’s Ministry of Finance.
LNG Terminals

Japan’s LNG imports drop in June

Japan’s liquefied natural gas (LNG) imports dropped by 2.8 percent in June compared to the same month last year, according to provisional data released by the country’s Ministry of Finance.
LNG Terminals

Japan boosts LNG imports in May

Japan’s liquefied natural gas (LNG) imports rose in May for the second month in a row, according to the...
LNG Terminals

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...