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LNG contract price hits two-year high for Japan spot in January



Petroleumworld.com 02 10 2017

Prices for liquefied natural gas (LNG) spot cargoes for Japan, the world's top buyer, rose to a two-year high in January, official data showed on Thursday.

The average price of spot LNG bought last month was $8.40 per million British thermal units, up from $8 in the previous month and the highest since January 2015, according to monthly data from the Ministry of Economy, Trade and Industry (METI).

Spot gas prices in Asia LNG-AS had fallen to $7.75 per million British thermal units (mmBtu) by the end of January from $9.75 earlier in the month, as oversupplied Japanese utilities sought to offload cargoes and as key European gas benchmarks softened.

METI surveys spot LNG cargoes bought by Japanese utilities and other importers, but excludes cargo-by-cargo deals linked to benchmarks such as the U.S. natural gas Henry Hub index.

It only publishes a price if there is a minimum of two eligible cargoes reported by buyers.

The following table lists the monthly average prices in mmBtu for contracted and arriving spot LNG cargoes. Prices are converted to delivery on an ex-ship basis. Year Month Contract price Arrival price 2017 Jan $8.40 $7.30 2016 Dec $8.00 $6.80 2016 Nov $7.00 $5.90 2016 Oct $6.10 $5.70 2016 Sept $5.70 n/a 2016 Aug n/a $5.40 2016 July $5.80 $6.00 2016 June n/a $4.50 2016 May $4.10 $4.30 2016 Apr $4.20 $5.80 2016 Mar n/a $6.80 2016 Feb $6.50 $6.90 2016 Jan $7.10 $7.90 2015 Dec $7.40 $7.50 2015 Nov $7.40 $7.50 2015 Oct $7.60 $7.90 2015 Sept $7.40 $7.70 2015 Aug $8.10 $7.70 2015 July $7.90 n/a 2015 June $7.60 $7.60 2015 May n/a n/a 2015 April $7.60 $7.90 2015 Mar $8.00 $7.60 2015 Feb $7.60 $10.70 2015 Jan $10.20 $13.90 2014 Dec $11.60 $15.10 2014 Nov $14.40 $14.30 2014 Oct $15.30 $12.40 2014 Sept $13.20 $11.30 2014 Aug $11.40 $12.50 2014 July $11.80 $13.80 2014 June $13.80 $15.00 2014 May $14.80 $16.30 2014 April $16.00 $18.30 2014 March $18.30 n/a

Reporting by Osamu Tsukimori; Editing by Christian Schmollinger and Joseph Radford from Reuters.

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