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2016-05-23 20:40:00

JAPAN PAY LESS

JAPAN PAY LESS

 

JAPAN LNG PRICES 2007 - 2017

 

Japan, the world's biggest buyer of LNG, paid the lowest price in about 11 years for the fuel last month amid a global oversupply.

The average price of LNG shipments into the country was about $6.32 per million British thermal units in April, the least since August 2005, according to Bloomberg calculations based on preliminary data from the Ministry of Finance. Prices are expected to rebound in coming months as crude values have surged, according to Junzo Tamamizu, managing partner at Clavis Energy Partners LLC.

LNG under long-term contracts imported into Asian countries are typically linked to oil prices with a time lag of several months. Brent which sank near $27 a barrel in January, the lowest level since 2003, has rallied more than 70 percent since then and traded at $48.51 at 2:06 p.m. Tokyo time on ICE Futures Europe exchange.

"With crude prices bottoming between January and February, LNG prices are set to rebound," Tamamizu said by phone Monday. As Asian spot LNG prices are cheaper, "buyers would likely work harder to renegotiate with suppliers" to lower prices and get more flexibility, Tamamizu said.

Asia spot LNG fell 10 cents to $4.35/mmBtu from a week earlier, New York-based Energy Intelligence said on the website of its World Gas Intelligence publication on May 18. SLInG weekly spot price gained 1.5 percent to $4.36/mmBtu, according to an assessment by Singapore Exchange Ltd. on May 16.

bloomberg.com

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Earlier: 

JAPANESE DESIRES 

AUSTRALIAN LNG: TO JAPAN 

JAPAN - IRAN INVESTMENT 

RUSSIAN - JAPANESE BRIDGE 

JAPAN & RUSSIAN LNG

 

 

Tags: JAPAN, LNG, GAS

Chronicle:

JAPAN PAY LESS
2018, July, 12, 10:20:00

U.S. - EXXON - RUSSIA SANCTIONS

BLOOMBERG - Treasury Secretary Steven Mnuchin told a Texas judge that Exxon Mobil Corp. doesn’t have a right to see privileged documents related to a $2 million fine assessed against the energy company for violating sanctions related to Russia’s 2014 invasion of Ukraine.

JAPAN PAY LESS
2018, July, 12, 10:15:00

NORWAY'S OIL PRODUCTION: 1.747 MBD

NPD - Preliminary production figures for June 2018 show an average daily production of 1 747 000 barrels of oil, NGL and condensate, which is an increase of 88 000 barrels per day compared to May.

JAPAN PAY LESS
2018, July, 12, 10:10:00

NOVATEK'S PRODUCTION: +2.4%

NOVATEK - In the first half 2018, NOVATEK’s hydrocarbons production totaled 264.3 million barrels of oil equivalent (boe), including 32.93 billion cubic meters (bcm) of natural gas and 5,864 thousand tons of liquids (gas condensate and crude oil), resulting in an increase in total hydrocarbons production by 6.3 million boe, or by 2.4%, as compared to the first half 2017.

JAPAN PAY LESS
2018, July, 11, 09:35:00

OIL PRICE: NEAR $78 YET

REUTERS - Brent crude futures LCOc1 were down 75 cents, or 1 percent, at $78.11 a barrel by 0308 GMT, having fallen as low as $77.60. U.S. crude CLc1 was down 55 cents, or 0.7 percent, at $73.56.

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