Japan's Tohoku Electric buys May LNG cargo in tender

(Reuters) -- Japanese utility Tohoku Electric is estimated to have paid $5.65-$5.80 per MMbtu for a LNG cargo due in May following a tender, trade sources said.

Peer Kansai Electric paid $6.10 per MMbtu for an April shipment, reflecting a market structure known as backwardation where contracts further forward are sold at a discount to the prompt market.

Reporting by Oleg Vukmanovic in Milan; editing by Jason Neely

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