Japan’s March spot LNG price slides month-on-month

Japan's March spot LNG price slides month-on-month
Image courtesy of Tokyo Electric (Tepco)

The average price for spot liquefied natural gas (LNG) cargoes imported into Japan contracted in the month of March dropped off from the February figures.

The contract-based price was at $8.8 per mmBtu, a 17 percent decrease compared to the $10.6 per mmBtu contract-based price in February.

However, data from Japan’s Ministry of Economy, Trade and Industry shows an that compared to the corresponding month in 2017, when the contract based price was $6.2 per mmBtu, March contract-based price jumped some 42 percent.

The price of spot LNG arriving in Japan during the month of March dropped compared to the previous month but rose compared to the corresponding month a year ago.

Compared to February 2018 when the ministry reported an arrival-based price of $10.9 mmBtu, the March price stood at $10.2 per mmBtu, 6.4 percent higher. Compared to March 2017, the arrival-based price increase was 33.5 percent higher.

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

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