Japan’s Cheapest Spot LNG in Two Years May Help Ease Inflation
- Tohoku Electric buys cargo just below $10 per million Btu
- Provides some relief to policymakers grappling with CPI
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A Japanese utility paid the least for spot liquefied natural gas in more than two years, potentially limiting the impact of electricity rate hikes that threaten to boost inflation.
Tohoku Electric Power Co. bought a shipment for late July at a rate just below $10 per million British thermal units on Thursday, according to traders with knowledge of the matter. That’s a third of the price it paid for a December cargo of the power-station fuel.