Japan’s Apr Spot LNG Averages US$5.2/MMBtu

摘要

Japan’s April-contracted spot LNG averaged at US$5.2/MMBtu (preliminary), according to a price survey ofspot LNG released by the Ministry of Economy, Trade and Industry (METI) on 15th. Reflecting a sense of easing insupply and demand balance, the average price dropped by $1.2 (18.8%) from last month, sank to the three-year lowestlevel since May 2016. This is the fifth consecutive month-by-month drop.In the month’s negotiations for Asia-bound spot LNG cargoes expected to arrive in May, shipment from Australiahad been suspended for several days due to a cyclone, but this had a small impact on the market as there were abundantsupply volumes from other areas. Also, buyers have less interest in spot LNG as they have overstocks because of thewarmer winter, and hence the price level dropped to mid-$4.