Japan's LNG buyers paid an average of $4.10/MMBtu for spot cargoes contracted in May, down 2.4% from $4.20/MMBtu in April, data released by the Ministry of Economy, Trade and Industry showed Thursday.
The ministry gathers data from utilities and other LNG buyers in the country to publish a simple average of contract prices transacted in a given month.
The delivery months of the cargoes are not disclosed.
Platts JKM averaged $4.58/MMBtu in May, which reflects spot deals concluded for June and July deliveries to Japan and South Korea.
METI also said Thursday that the average price of cargoes delivered into Japan in May was $4.30/MMBtu, falling 26% from $5.80/MMBtu in April.
Meanwhile, the average price of Platts JKM for May delivery cargoes was at $4.241/MMBtu.
The May JKM was assessed from March 16 to April 15, during which the price fell on weak demand and expectations of additional volumes from new projects.
