Japan’s spot LNG price pegged back after 3-year high

The average price for spot liquefied natural gas (LNG) cargoes imported into Japan that was contracted in the month of February was pegged back slightly compared to the previous month. 

The contract-based price was at $10.6 per mmBtu, a 3.6 percent decrease compared to the $11 per mmBtu contract-based price in January which was the highest in over three years.

However, data from Japan’s Ministry of Economy, Trade and Industry still shows that compared to the corresponding month in 2017, the contract based price increased 24.7 percent.

The price of spot LNG arriving in Japan during the month of February increased compared to the previous month as well as the corresponding month a year ago.

Compared to January 2018 when the ministry reported an arrival-based price of $10.1 mmBtu, the February price stood at $10.9 per mmBtu, 7.9 percent higher. Compared to February 2017, the increase was even higher at 23.9 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