Prices of spot liquefied natural gas (LNG) imported into Japan during the month of February have slipped from record highs achieved in January.
Data from Japan’s Ministry of Economy, Trade and Industry shows that the price of spot LNG contracted during February 2021 reached $12.7 per mmBtu.
This is below the $18.5 mmBtu reported for January 2021 .
It is also well above the contract-based price of $3.4 per mmBtu reported in February 2020.
The price of spot LNG arriving into Japan in February 2021 reached $16.3 per mmBtu. This is an increase from the $15.5 per mmBtu reported in the previous month.
It is also well above the $5.5 per mmBtu reported in the corresponding month in 2020.
The February 2021 arrival-based price equals the previously highest level reached in May 2014.
The ministry surveys only spot LNG cargoes purchased by Japanese utilities and other importers.
It excludes cargo deals linked to a particular price index such as the US Henry Hub and the JKM.