Japan and China have some of the highest spot prices for liquefied natural gas. In January 2024, customers in Japan and China paid approximately 10.05 U.S. dollars per million British thermal unit of LNG delivered. Destination markets in Europe and South America experienced slightly lower shipping costs. In the last few years, the global trade volume of LNG has increased notably, exceeding 500 billion cubic meters shipped.
LNG demand growth and largest destination markets
Increased gas demand and improved liquefaction technology has prompted growth in the gas market and the entry of new players. LNG prices were initially strongly influenced by crude oil, however, as the market grew it developed independent benchmarks. As one of the largest LNG importing countries, the price for LNG in Japan has become synonymous with the global benchmark.
Spot prices of liquefied natural gas (LNG) delivered worldwide as of January 2024, by select destination country
(in U.S. dollars per million British thermal units)
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GECF. (February 19, 2024). Spot prices of liquefied natural gas (LNG) delivered worldwide as of January 2024, by select destination country (in U.S. dollars per million British thermal units) [Graph]. In Statista. Retrieved October 12, 2024, from https://www.statista.com/statistics/252984/landed-prices-of-liquefied-natural-gas-in-selected-regions-worldwide/
GECF. "Spot prices of liquefied natural gas (LNG) delivered worldwide as of January 2024, by select destination country (in U.S. dollars per million British thermal units)." Chart. February 19, 2024. Statista. Accessed October 12, 2024. https://www.statista.com/statistics/252984/landed-prices-of-liquefied-natural-gas-in-selected-regions-worldwide/
GECF. (2024). Spot prices of liquefied natural gas (LNG) delivered worldwide as of January 2024, by select destination country (in U.S. dollars per million British thermal units). Statista. Statista Inc.. Accessed: October 12, 2024. https://www.statista.com/statistics/252984/landed-prices-of-liquefied-natural-gas-in-selected-regions-worldwide/
GECF. "Spot Prices of Liquefied Natural Gas (Lng) Delivered Worldwide as of January 2024, by Select Destination Country (in U.S. Dollars per Million British Thermal Units)." Statista, Statista Inc., 19 Feb 2024, https://www.statista.com/statistics/252984/landed-prices-of-liquefied-natural-gas-in-selected-regions-worldwide/
GECF, Spot prices of liquefied natural gas (LNG) delivered worldwide as of January 2024, by select destination country (in U.S. dollars per million British thermal units) Statista, https://www.statista.com/statistics/252984/landed-prices-of-liquefied-natural-gas-in-selected-regions-worldwide/ (last visited October 12, 2024)
Spot prices of liquefied natural gas (LNG) delivered worldwide as of January 2024, by select destination country (in U.S. dollars per million British thermal units) [Graph], GECF, February 19, 2024. [Online]. Available: https://www.statista.com/statistics/252984/landed-prices-of-liquefied-natural-gas-in-selected-regions-worldwide/