Japan’s spot LNG contract price hits 14-month low

The average price of spot LNG imported into Japan that was contracted in July 2017 was at the lowest level since May last year.

According to the data provided by Japan’s Ministry of Economy, Trade and Industry (METI), the July contract-based price was at $5.6 per mmBtu. This is the lowest the contract-based price has been since May 2016 when METI reported a contract-based price of $4.10 per mmBtu.

The arrival-based price was at $5.6 per mmBtu, the same as the previous month that was the lowest since August 2016.

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