June 11, 2018 / 5:25 AM / a year ago

Japan spot LNG contract price falls to 7-month low in May

    TOKYO, June 11 (Reuters) - The average contract price for
spot liquefied natural gas (LNG) cargoes for shipment to Japan
fell to a seven-month low last month, official data showed on
Monday.
    The average contract price last month was $8.2 per million
British thermal units (mmBtu), down 90 cents from April,
according to monthly data from the Ministry of Economy, Trade
and Industry (METI). 
    The average price of spot LNG cargoes that arrived in Japan
during May was $7.9 per mmBtu, down from $8.8 in April. 
    Asian spot LNG prices held around $8.1 per mmBtu in early
May before rising gradually to $9.20 by the end of month,
marking a three-year summer season high driven by crude oil
gains, production outages and demand from key Asian consumers.

    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   May              $8.2            $7.9
   2018   Apr              $9.1            $8.8
   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 Subhranshu Sahu)
  
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