Image courtesy of Tepco
Spot liquefied natural gas (LNG) prices contracted an imported into Japan during the month of February plunged.
Data from the Japanese Ministry of Economy, Trade and Industry (METI) shows the contract-based price in February was at $3.4 per mmBtu.
This represents a drop of 42.4 percent from the $5.9 per mmBtu reported in January 2020 and a 54.7 percent drop from the $7.5 per mmBtu reported in February 2019.
The arrival-based price for the month of February was $5.5 per mmBtu, down 8.3 percent from $6.0 per mmBtu in the previous month. When compared to the arrival-based price of $8.3 per mmBtu reported in February 2019, this is a 33.7 percent plunge.
Only spot LNG cargoes are taken into account in this assessment, excluding short, medium and long-term contract cargoes, as well as those linked to a particular price index.
LNG World News Staff