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.

Most Popular

Technip Energies wins contract for Eni’s Coral Norte FLNG

France-based LNG engineering giant Technip Energies has won a contract for preliminary work on Eni's second FLNG project in Mozambique, Coral Norte (Coral North).

Victrol: LNG London hits bunkering milestone

The Shell-chartered inland bunkering vessel LNG London, owned by a joint venture of Belgium's Victrol and France's Sogestran, has reached a new operational milestone.

Himalaya’s LNG-fueled bulkers earned $34,500 per day in June

LNG-powered bulker owner Himalaya Shipping achieved average time charter equivalent earnings of about $34,500 per day in June.

More News Like This

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...

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...