Rotterdam’s LNG bunker price has risen amid maintenance work and lower production in Norway, while Singapore’s LNG price has drawn support from hot regional weather, reports Engine.
Rotterdam
Rotterdam’s LNG bunker price has shot up by $36/mt in the past week, to $789/mt. The underlying Dutch TTF Natural Gas contract rolled from the September contract to the higher-priced October contract last week, which has contributed to raising the TTF benchmark.
Ongoing gas infrastructure maintenance in Norway is causing supply disruptions, Denmark’s Energi Danmark said.
Despite this, storage levels remain at 92.4% capacity – well above the usual for this time of year. That could help cushion some of the impact from potential disruptions ahead.
Singapore
Singapore’s LNG bunker price has risen by $14/mt to $863/mt. This increase has been driven by a higher NYMEX Japan/Korea Marker (JKM) price.
But Japan’s situation may stabilise soon as Typhoon Shanshan caused a significant power outage on Japan’s Kyushu island. Kyushu relies on LNG to generate electricity and the outage has reduced the country’s demand for LNG, senior analyst at ICIS Fei Xu said.
Did you Subscribe to our daily newsletter?
It’s Free Click here to Subscribe!
Source: Engine
