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|Average Price of Spot LNG November Contracts Drops below US$15|
|= Down by US$0.9/mmbtu from October due to weak demand =|
Ministry of Economy, Trade and Industry (METI) released survey results for November 2014 On December 9 that the average price of spot LNG contracts concluded in November was US$14.4/mmbtu, down by US$0.9 from the preceding month, basically due to the weak demand from consumers, such as power generators, who already have secured certain quantities for winter, leaving only a smaller room for additional purchases.|
The prices that were negotiated last month for spot January arrivals were already below US$12. The weak trend continued over to November, pressing the current level of prices down to even more or less US$10. Spot sales from Northwest Shelf, Australia etc. have been going on.
According to the forecast for the coming three months from December by Meteorological Bureau of Japan, air temperature will be, compared to usual years, a little higher in the western part of Japan and almost the same in the northern part of Japan. No strong Cold Wave attack is forecast during this winter.
The average price of November arrivals was US$14.3/mmbtu, up by US$1.9 from the preceding month based on more inquiries than expected. However, as mentioned above, the contract prices turned around in November. The prices of spot December arrivals will follow the downward trend.
|last modified : Mon 15 Dec, 2014 [10:15]|