Japan LNG buyers pay 4% higher on month for Aug deals at $5.80/MMBtu: METI


Japanese LNG buyers paid an average of $5.80/MMBtu for spot cargoes that were contracted in August, up 3.6% from $5.60/MMBtu in July, Ministry of Economy, Trade and Industry data showed this week.

The delivery months for these contracts are not disclosed.

S&P Global Platts JKM averaged $6.126/MMBtu in August, reflecting deals for September and October deliveries. Demand from end-users and traders pushed up the price, while support also came from expectations that a hot summer could drive some end-users to return to the spot market before winter.

METI also published the average price of cargoes delivered to Japan in August, which stood at $5.60/MMBtu, unchanged from July.

The August JKM was assessed from June 16 to July 14, during which the price remained largely steady, trading around $5.40/MMBtu to $5.50/MMBtu. The August JKM averaged at $5.445/MMBtu.

Source: Platts 

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