Global Oil & Gas: Japan’s spot LNG contract price continues to climb

 

For illustration only (Image courtesy of Tokyo Electric Power)

Japanese buyers paid an average price of $9 per MMBtu for liquefied natural gas (LNG) spot cargoes that were contracted in November, the highest price in nearly three years.

 

Boosted by the winter heating season, the price rose 9.8 percent from $8.20 per MMBtu in October and was the highest since January 2015, according to the data provided by Japan’s Ministry of Economy, Trade and Industry (METI).

To remind, the spot price for cargoes contracted in October reached an eight-month high.

The arrival-based price for November was at $7.1 per MMBtu, rising 16.4 percent from $6.10/MMBtu in October.

Only spot LNG cargoes are taken into account in this assessments, excluding short, medium and long-term contract cargoes, as well as those linked to a particular price index. source: LNG World News Staff

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