The average price of spot LNG imports into Japan contracted in February was $12.7/mn Btu, up 273% year/year, according to data published by the country's trade ministry (Meti) said on March 9.  

The price was, however, down 31% month/month. The average price of spot LNG imports into Japan contracted in January hit an all-time high of $18.5/mn Btu.  

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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 $16.3/mn Btu, up 196% yr/yr and 5% m/m.   

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.