Global Markets: Japan’s Jan spot LNG price highest since Dec 2014

JAPAN - courtesy-of-tokyo-electric
Image courtesy of Tokyo Electric

The average price for spot liquefied natural gas (LNG) cargoes in Japan contracted in January rose to $11 per MMBtu, the highest in more than three years, the data from Japan’s Ministry of Economy, Trade and Industry showed.

The price was the highest since December 2014 and rose up 7.8% from December,

The average price of cargoes delivered to Japan in January was $10.10 per MMBtu, up 24.7% from December, METI said.

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.

Japanese imports of LNG reportedly hit their highest in at least five years in January due to cold weather.

Japan, the world’s largest LNG buyer, imported nearly 8.7 million tonnes last month, up 8 percent from December and the largest volume since at least January, 2013. by  LNG World News Staff

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