Japanese Feb Spot LNG Price Sees Sharp Drop

The average price of spot LNG imports into Japan contracted in February was $3.4/mn Btu, sharply down from $7.5/mn Btu in the same month a year earlier, the country's trade ministry (Meti) said March 10. Compared with January, the price was down 42%.

Meti prices are delivered ex ship (DES) in Japan, or else are converted into a DES equivalent.

Meti also published March 10 official average arrivals-based prices. The latest figures show that February arrivals’ average value was $5.5/mn Btu, down from $8.3/mn Btu for same month of last year.