METI: Japan LNG Spot Prices Drop in August
Prices of spot LNG cargoes contracted or delivered into Japan in August dipped again after a slight improvement in June and July. Japan’s Ministry of Economy, Trade and Industry (METI) reported on September 9, 2020, that the contract-based price in August was at $3.4/mm Btu, down 19% month on month and 36% year on year.
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 JKM based. 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.
