April 10, 2018 / 5:57 AM / 2 years ago

UPDATE 1-Japan spot LNG contract price falls to 5-month low in March

    * Avg spot LNG price in March falls to $8.80/mmBtu from
$10.60
    * Asia spot prices ease as winter ends, surplus cargoes
build up

 (Adds details)
    TOKYO, April 10 (Reuters) - The average contract price for
spot liquefied natural gas (LNG) cargoes for shipment to Japan
fell to a five-month low last month, official data showed on
Tuesday. 
    The average contract price last month was $8.80 per million
British thermal units (mmBtu), down from $10.60 per mmBtu in
February, according to data from the Ministry of Economy, Trade
and Industry (METI). 
    The average price of spot LNG cargoes that arrived in Japan
during March was $10.20 per mmBtu. 
    Asian spot prices for LNG LNG-AS have fallen gradually
from a mid-January high as surplus cargoes built up and demand
dropped off in major gas-consuming regions. 
    LNG prices typically fall at the beginning of spring in the
northern hemisphere as demand for heating diminishes. 
    METI surveys spot LNG cargoes bought by Japanese utilities
and other importers, but excludes cargo-by-cargo deals linked to
benchmarks 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. 
    The following table lists the monthly average prices in
mmBtu for contracted and arriving spot LNG cargoes. Prices are
converted to delivery on an ex-ship basis. 
    
   Year   Month   Contract price   Arrival price
   2018   March            $8.80          $10.20
   2018   Feb             $10.60          $10.90
   2018   Jan             $11.00          $10.10
   2017   Dec             $10.20           $8.10
   2017   Nov              $9.00           $7.10
   2017   Oct              $8.20           $6.10
   2017   Sept             $6.90           $5.80
   2017   Aug              $5.80           $5.60
   2017   July             $5.60           $5.60
   2017   June               n/a           $5.60
   2017   May              $5.70           $5.70
   2017   April            $5.70           $5.90
   2017   March            $6.30           $7.50
   2017   Feb              $8.50           $8.80
   2017   Jan              $8.40           $7.30
   2016   Dec              $8.00           $6.80
   2016   Nov              $7.00           $5.90
   2016   Oct              $6.10           $5.70
   2016   Sept             $5.70             n/a
   2016   Aug                n/a           $5.40
   2016   July             $5.80           $6.00
   2016   June               n/a           $4.50
   2016   May              $4.10           $4.30
   2016   April            $4.20           $5.80
   2016   March              n/a           $6.80
   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
 
 (Reporting by Osamu Tsukimori; Editing by Tom Hogue)
  
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