LNG buyers in Japan paid an average $7.40/MMBtu for spot cargoes in November, down 2.6% from $7.60/MMBtu in October, data released Wednesday by the Ministry of Economy, Trade and Industry showed.
The price is an average of contract prices for spot LNG cargoes that will be delivered into Japan, but the delivery months of the cargoes are not given.
The Platts Japan Korea Marker averaged at $7.466/MMBtu during November, reflecting spot deals done for December- and January-delivery cargoes to Japan and South Korea.
METI also said the average price of cargoes delivered in November to Japan was $7.50/MMBtu, down 5% from $7.90/MMBtu in October.
The average price of Platts JKM for cargoes for delivery in November was $6.70/MMBtu.
Platts assessments between September 16 and October 15 reflect spot cargoes for delivery in November.
Trading for November JKM began with the JKM at $7/MMBtu but gradually declined on weak demand to end at $6.70/MMBtu on October 15.
