LNG

Japanese liquefied natural gas imports dropped almost 9 percent in December as the nation formally ceded the No. 1 spot to China as the top LNG importer for 2021, while Japan’s LNG shipments from the US jumped nearly 50 percent.

Japanese spot liquefied natural gas cargoes contracted last month cost an average of $5.40 per million British thermal units, which was $2.80 per MMBtu less than in May 2018 amid a glut in supplies and lower seasonal demand.