Japan's spot LNG price rises 94% yr/yr in March
The average price of spot LNG imports into Japan contracted in March was $6.6/mn Btu, up 94% year/year, according to data published by the country's trade ministry (Meti) on April 9.
The price was down 48% compared with February 2021, however. The average price of spot LNG imports into Japan contracted in January hit an all-time high of $18.5/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 $9.3/mn Btu, down from $16.3/mn Btu in February 2021.
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.