Japan’s spot LNG prices start to pick up

Japanese spot LNG cargo prices are showing signs of slight recovery following a record drop in May.

The effects of the Covid-19 coronavirus pandemic have weighed down on Japan’s spot LNG prices pushing them to record lows in previous months.

The average contract price for spot LNG cargoes shipped to Japan in June stood at $3.80/mmBtu, according to data released by the Ministry of Economy, Trade and Industry.

This is a rise compared to a record low in May when the contracted price reached $2.20 per mmBtu.

But its still represents a decline when compared to the same month a year ago when the contracted price was $5.5/mmBtu.

METI’s data shows the arrival-based spot price was also at $3.80/mmBtu rising from last month’s $2.60/mmBtu but substantially down from $7.50/mmBtu recorded in June 2019.

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

Israel’s NewMed Energy keen to develop Leviathan FLNG project

Israel's NewMed Energy, previously known as Delek Drilling, is "really keen" to develop a floating LNG terminal as part...

Greece’s Motor Oil nears FID on Dioriga Gas FSRU

Greece’s Motor Oil is planning to decide on its Dioriga Gas FSRU project near Corinth by the end of...

Deutsche ReGas says first FSRU arrives in Germany

Deutsche ReGas, the developer of the LNG import terminal in the port of Lubmin, said on Wednesday that Germany's...

More News Like This

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...

Japan’s LNG imports in June rise 1.7 percent

Japan, the world’s top LNG importer this year, boosted its imports of liquefied natural gas in June by 1.7 percent,...

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...