Japan’s August spot LNG prices plummet year on year

Japan’s August spot LNG prices plummet year on year
Illustration only. Image source: Pixabay under CCO Creative Commons license.

Japanese imports of liquefied natural gas (LNG) have edged up in August from the previous month, but plummeted year on year. 

Data from the Japanese Ministry of Economy, Trade and Industry (METI) shows the contract-based price jumped from $4.7 in July to $5.3 in August, a 12.8 percent increase.

However, compared to August 2018 when the contract-based price was at $10.7, this represents a 50.5 percent drop.

The price of LNG spot cargoes arriving into Japan in Augusts was at $5.5, rising 3.6 compared to $4.7 reported in July. However, it also dropped 45.9 compared to the arrival-based price in August 2018.

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

 

LNG World News Staff

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