LNG Bunker Snapshot: Rotterdam price climbs as Middle East tensions tighten gas market
Weekly changes in LNG bunker prices: Rotterdam up by $67/mt to $1,346/mt Singapore up by $1/mt to $1,443/mt Baltics up by $64/mt to $1,449/mt Rotterdam Rotterdam’s LNG bunker price has surged by $67/mt, tracking gains in the front-month Dutch TTF natural gas contract. Over the past week, TTF has risen by around 1% to $23.63/MMBtu ...
Rotterdam's LNG bunker price climbed $67/mt to $1,346/mt, while Singapore's price rose by $1/mt to $1,443/mt. The Baltics saw a $64/mt increase to $1,449/mt. The surge in Rotterdam's price matched gains in the TTF natural gas contract, which jumped 1% to $23.63/MMBtu ($1,229/mt) amid heightened geopolitical risks due to US-Iran tensions.
JOGMEC attributed the rise to the "possibility of a reopening of Hormuz being uncertain." European gas demand also climbed, and storage levels remained below the 75% winter target. Singapore's price premium over Rotterdam narrowed from $163/mt to $97/mt as competition for LNG cargoes intensified. Additional support came from unplanned maintenance at Norway's Asgard gas field.
While JKM rose, an improved bunker delivery premium was offset by a 4% decline. European underground gas storage stands at 64.4%, but is 16.7% below the yearly level, leaving the region unable to meet the 75% winter storage target.
Written by urgent.news from Hellenic Shipping News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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