Japan Spot LNG Price in September Drops

The average price of spot LNG imports into Japan contracted in September was $4.5/mn Btu, down from $5.4/mn Btu in the year ago period, the country's trade ministry (Meti) said on October 9. The price was up 32% month on month, however.

Meti prices are delivered ex ship (DES) in Japan or else 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 $3.4/mn Btu, down from $4.9/mn Btu in September last year.

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.