Japan’s spot LNG price bumps up in July

Japan's spot LNG price bumps up in July
Illustration only. Image source: Pixabay under CCO Creative Commons license.

The average price for spot liquefied natural gas (LNG) cargoes imported into Japan, contracted in the month of July, increased for the second month in a row. 

Data released by Japan’s Ministry of Economy, Trade and Industry shows the average base price of these spot LNG cargoes was at $10 per mmBtu, up from $9.3 per mmBtu in June.

The contract-based price significantly jumped compared to the $5.6 per mmBtu recorded in July 2017.

In terms of prices of the LNG cargoes arriving into Japan in July, the price stood at 10.3 per mmBtu, up from $8.9 mmBtu in June 2018.

Compared to the arrival-based price recorded in July 2017, of $5.6 per mmBtu, the July 2018 figure represents an 84 percent increase.

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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