Japanese December Spot LNG Prices Jump
The average price of spot LNG imports into Japan contracted in December was $8.6/mn Btu, up 34.3% year/year, the country's trade ministry (Meti) said on January 13. The price was up 26.5% month/month although since then trades have been reported in the high $20s/mn Btu.
Meti prices are delivered ex ship (DES) in Japan or are converted into a DES equivalent and are simple averages, excluding LNG sold on Henry Hub or the Japan Korea Marker, a spot assessment published daily by SP Global.
Meti also reported that the arrival-based spot LNG price was $6.8/mn Btu, up 1.5% yr/yr and 4.6% m/m, Meti said.
The ministry gathers prices from end-consumers of spot LNG and in order to avoid double-counting, it excludes companies that mediate transactions such as trading companies.