Japan reached the lowest point on LNG import
The ministry noted the contract-based spot LNG price for May in its most recent monthly report reached $2.2 per mmBtu. The price fell the previous month from $2.4 per mmBtu driven by the ongoing impact of the coronavirus pandemic on product demand.
In March 2014 the Japanese Ministry of Economy, Trade and Industry (METI) began compiling the data.
The price slipped 59.3 per cent relative to May 2019, when METI announced a contract-based price of $5.4 per mmBtu.
The price based on delivery was down 13.3 per cent. METI shows a price that reaches $2.6 per mmBtu, compared with $3 per MMBtu in April.
The arrival-based price slipped 50.9 per cent compared with May 2019. To note, the arrival-based price for May 2019 was $5.3 per mmBtu.
In this calculation, only spot LNG cargoes are taken into account, excluding short , medium and long-term contract cargo and those connected to a common price index.
Maritime Business World