The average price Japanese LNG buyers paid for spot cargoes delivered into Japan in August was $5.40/MMBtu, down 10% from $6/MMBtu in July, data released by the Ministry of Economy, Trade and Industry showed Friday.
METI however, did not publish the average price for spot cargoes contracted in August due to a lack of reported trades.
The ministry releases two sets of prices every month.
One is the average delivery price and the other is the simple average of contract prices.
The latter is calculated by the ministry by collecting data from utilities and other LNG buyers, but the delivery months of the cargoes into Japan are not disclosed.
The Platts JKM for cargoes delivered in August averaged $5.273/MMBtu. The assessment period started June 16 when August JKM stood at $5.05/MMBtu, and ended on July 15 with the JKM at $5.55/MMBtu, partly due to firm demand.
The JKM also averaged $5.582/MMBtu during the month of August, which reflects spot deals done for September and October.
