Recent updates on the LNG bunker market reveal significant price adjustments in Rotterdam and Singapore due to evolving demand dynamics and supply conditions. This snapshot provides insights into the factors influencing LNG prices amidst global energy market fluctuations.
Rotterdam LNG Market Update
Rotterdam has witnessed a $16/mt decline in LNG bunker prices, driven by ample European gas inventories and consistent supplies from Norway. Anticipation of increased gas consumption due to hotter weather could potentially stabilize prices in the near future.
Singapore LNG Market Trends
LNG bunker prices in Singapore have dropped by $8/mt, influenced by a decrease in the NYMEX Japan/Korea Marker (JKM) price and subdued demand across Asia. Factors such as unexpected power sector outages in Japan and reduced gas needs from South Korea’s new nuclear power plant have contributed to this decline.
Forecasted Demand and Price Outlook
Forecasts indicate a potential rise in gas demand in Asia driven by anticipated warmer temperatures, particularly in China, Japan, and South Korea. This expected uptick in electricity production could potentially support LNG prices amidst current market fluctuations.
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Source: ENGINE
