Photo: For illustration purposes only (Image: Tokyo Gas)

Japanese spot LNG prices rise continues

Prices of spot liquefied natural gas (LNG) imported into Japan and contracted during the month of November rose for the third month running.

Japanese spot LNG prices rise continues
For illustration purposes only (Image: Tokyo Gas)

Data from Japan’s Ministry of Economy, Trade and Industry shows that the price of spot LNG contracted during November stood at $6.8 per mmBtu.

This is a 13.3 per cent increase compared to the previous month when the contract-based price was at $6 per mmBtu.

The contract-based price could not be compared with the corresponding month last year as there were not enough reported imports in November 2019.

The price of spot LNG arriving into Japan in November 2020 reached $6.5 per mmBtu, up 32.6 per cent on the $4.9 per mmBtu reported during the previous month.

Even compared to the corresponding month in 2019, the arrival-based price rose 18.2 per cent.

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 and the JKM.

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