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Japan spot LNG contract price falls to 14-month low

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LNG Industry,

According to the latest Reuters report, the average contract price for spot cargoes of LNG for shipment to Japan fell to a 14-month low in July.

Contract prices averaged US$5.60/mmBtu last month, according to data from the Ministry of Economy, Trade and Industry (METI).

The average price of spot LNG cargoes that arrived in Japan in July was also US$5.60/mmBtu, matching the previous month, which was a 10-month low.

METI surveys spot LNG cargoes bought by Japanese utilities and other importers, but excludes cargo-by-cargo deals linked to benchmarks such as the US natural gas Henry Hub index.

It only publishes a price if there is a minimum of two eligible cargoes reported by buyers.

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