Japan’s spot LNG price drops further in May

Japan's spot LNG price drops further in May

The price of spot liquefied natural gas imported into Japan continues its drop hitting new record lows in the month of May. 

According to the monthly report issued by Japan’s Ministry of Economy, Trade and Industry (METI), the price of spot LNG cargoes arriving in May reached US$4.3 per mmBtu on DES basis.

Compared to the month of April the price dropped $1.5 or 25.9 percent, reaching its lowest point since the ministry started publishing monthly reports in March 2014.

The price of contract-based spot LNG cargoes for May was $4.1 per mmBtu, the report shows.

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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