Japan’s spot LNG price drops further in February

Japan’s price of spot liquefied natural gas contracted in February averaged US$6.5 per mmBtu on DES basis.

The price dropped 8.5 percent compared to $7.1 per mmBtu January, when it has already reached the lowest point since Japan’s Ministry of Economy, Trade and Industry (METI) started publishing monthly reports in March 2014.

Compared to the same month in 2015, the contract-based price dropped 13.3 percent from $7.5 per mmBtu.

According to METI’s latest report, the average price of spot-LNG imported into Japan that arrived in February stood at $6.9 per mmBtu. This was a drop of 12.7 percent compared to the $7.9 per mmBtu in January 2016.

In comparison to February 2015 when it stood at $10.7 per mmBtu, the arrival-based price dropped 35.5 percent.

Only spot LNG cargoes are taken into account in this assessments, excluding short, medium and long-term contract cargoes, as well as those linked to a particular price index.

LNG World News Staff