Japan’s spot LNG prices continue to drop

Japan's spot LNG prices continue to drop
Image courtesy of Tokyo Gas

The average price of spot LNG for delivery into Japan that was contracted in April 2017 was at US$5.7 per mmBtu.

According to the monthly report from the Japanese Ministry of Economy, Trade and Industry (METI), the contract-based spot price dropped 9.5 percent from $6.3 per mmBtu recorded in March.

Compared to April 2016, when the ministry reported a contract-based price of $4.2 per mmBtu, spot LNG price rose over 35 percent.

The price of spot LNG arriving into Japan during the month of April 2017 also dropped in comparison to the previous month.

According to the data, the arrival-based price reached $5.9 per mmBtu in April 2017, down 21.3 percent from $7.5 per mmBtu reported in March 2017.

However, in comparison to April 2016 when the ministry reported the arrival-based price of $5.8 per mmBtu, the price of spot LNG has risen 1.7 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

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