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Japan spot LNG contract price falls to 5-month low

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LNG Industry,

Reuters are reporting that the average contract price for spot LNG cargoes for shipment to Japan fell to a five-month low last month.

The average contract price last month was US$8.80 per million British thermal units (mmBtu), down from US$10.60 per mmBtu in February, according to data from the Ministry of Economy, Trade and Industry (METI

The average price of spot LNG cargoes that arrived in Japan during March was US$10.20 per mmBtu.

Asian spot prices for LNG LNG-AS have fallen gradually from a mid-January high as surplus cargoes built up and demand dropped off in major gas-consuming regions.

LNG prices typically fall at the beginning of spring in the northern hemisphere as demand for heating diminishes.

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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