Japanese Spot Prices Hit Record in Jan
The average price of spot LNG imports into Japan contracted in January hit an all-time high of $18.5/mn Btu, up 213% year/year, the country's trade ministry (Meti) said on February 9. The price was up 147% month/month.
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.
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Meti also reported that the arrival-based spot LNG price was $15.5/mn Btu, up 158% yr/yr and 128% m/m, Meti said.
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.