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Japan Feb average LNG spot price falls to $6.50/mmBtu
March 9, 2016 / 3:41 AM / 2 years ago

Japan Feb average LNG spot price falls to $6.50/mmBtu

TOKYO, March 9 (Reuters) - Liquefied natural gas (LNG) spot
prices for delivery to Japan, the world's biggest buyer, in
February fell to its lowest since the trade ministry started
publishing figures two years ago, official data showed on
Tuesday.
    The average price for cargoes contracted in Feb. was $6.50
per million British thermal units (mmBtu), down 60 cents from
the previous month, and marking the lowest in data going back to
March 2014, the trade ministry said.
    The average price for cargoes arriving in Japan during
February dropped to $6.90 per mmBtu, marking it as the first
time it fell below $7 on the data.
    Spot Asian LNG prices extended declines to below $5 per
mmBtu late last month amid slack demand and more supply
beginning to flow from the United States and Australia. 
 
    The ministry surveys spot LNG cargoes bought by Japanese
utilities and other importers, while excluding cargo-by-cargo
deals linked to benchmark prices such as the U.S. natural gas
Henry Hub index.
    It only publishes a price if there is a minimum of two
eligible cargoes reported by buyers. 
    Prices are converted to a delivery ex ship basis.
    The following table lists the monthly average prices in
mmBtu for contracted and arriving spot LNG cargoes.
    
  Year   Month   Contract price   Arrival price
  2016     Feb            $6.50           $6.90
  2016     Jan            $7.10           $7.90
  2015     Dec            $7.40           $7.50
  2015     Nov            $7.40           $7.50
  2015     Oct            $7.60           $7.90
  2015    Sept            $7.40           $7.70
  2015     Aug            $8.10           $7.70
  2015    July            $7.90             n/a
  2015    June            $7.60           $7.60
  2015     May              n/a             n/a
  2015   April            $7.60           $7.90
  2015     Mar            $8.00           $7.60
  2015     Feb            $7.60          $10.70
  2015     Jan           $10.20          $13.90
  2014     Dec           $11.60          $15.10
  2014     Nov           $14.40          $14.30
  2014     Oct           $15.30          $12.40
  2014    Sept           $13.20          $11.30
  2014     Aug           $11.40          $12.50
  2014    July           $11.80          $13.80
  2014    June           $13.80          $15.00
  2014     May           $14.80          $16.30
  2014   April           $16.00          $18.30
  2014   March           $18.30             n/a
 
    
 (Reporting by Osamu Tsukimori; Editing by Sherry
Jacob-Phillips)

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