LNG bunker prices softened in both Rotterdam and Singapore last week, influenced by improved gas supply, reports engine online.
Rotterdam
The LNG bunker price in Rotterdam has edged down by $13/mt to $753/mt in the past week. The port’s benchmark has tracked the downward movement in the front-month NYMEX Dutch TTF Natural Gas contract.
One of the key factors behind this price decline is improved natural gas production from Norway. Initial expectations suggested a significant reduction in Norwegian exports. However, the situation has turned out to be less severe than anticipated. This improvement in supply has helped ease some of the upward pressure on prices, Energi Danmark said.
Singapore
Singapore’s LNG bunker price has come down by $36/mt to $849/mt, tracking the downward movement of the front-month NYMEX Dutch TTF Natural Gas contract.
Chevron recently completed maintenance work at Australia’s Gorgon LNG Train 2, wrapping up the process ahead of schedule. This early completion has eased some supply constraints, helping to drive prices lower, Rystad Energy said. Chevron’s Gorgon LNG plant consists of three trains, each with a production capacity of 5.2 million mt/year, and a combined total capacity of 15.6 million mt/year.
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Source: Engine.online
