Continuing pressure forced the average price of Japan’s LNG imports below $6/MMBtu in May.
The average cost of Japan’s LNG imports fell further in May, to $5.9/MMBtu, making them cheaper than those of South Korea or China for the second month in a row. South Korea paid an average of $6/MMBtu for imported LNG in May, while China paid $6.3/MMBtu. Of the three importers, China typically pays the least. Although Japan paid more than $10/MMBtu for cargoes from Nigeria, around 68% of Japan’s imports for the month were below $6/MMBtu, pulling down the average.
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