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Japan reached the lowest point on LNG import

Japan reached the lowest point on LNG import

The ministry noted the contract-based spot LNG price for May in its most recent monthly report reached $2.2 per mmBtu. The price fell the previous month from $2.4 per mmBtu driven by the ongoing impact of the coronavirus pandemic on product demand.

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In March 2014 the Japanese Ministry of Economy, Trade and Industry (METI) began compiling the data.

The price slipped 59.3 per cent relative to May 2019, when METI announced a contract-based price of $5.4 per mmBtu.

The price based on delivery was down 13.3 per cent. METI shows a price that reaches $2.6 per mmBtu, compared with $3 per MMBtu in April.

The arrival-based price slipped 50.9 per cent compared with May 2019. To note, the arrival-based price for May 2019 was $5.3 per mmBtu.

In this calculation, only spot LNG cargoes are taken into account, excluding short , medium and long-term contract cargo and those connected to a common price index.

Maritime Business World 

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