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Japan spot LNG contract price hits two-year high

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LNG Industry,

Reuters is reporting that prices for LNG spot cargoes for Japan rose to a two-year high in January.

The average price of spot LNG bought last month was US$8.40 per million British thermal units, up from US$8 in the previous month and the highest since January 2015.

Spot gas prices in Asia LNG-AS had fallen to US$7.75 per million British thermal units by the end of January from US$9.75 earlier in the month.

The figures are provided by the Ministry of Economy, Trade and Industry’s monthly report, that surveys spot LNG cargoes bought by Japanese utilities and other importers, but excludes cargo-by-cargo deals linked to benchmarks.

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