Rotterdam’s LNG bunker price has shed some due to strong supply and lower gas demand in Europe, while Singapore’s price has increased amid concerns about potential supply constraints in northeast Asia, reports engine.online.
Rotterdam
The LNG bunker price in Rotterdam has dropped by $3/mt to $780/mt in the past week. The port’s benchmark has tracked the downward movement in the front-month NYMEX Dutch TTF Natural Gas contract.
A key factor in this price movement is the strong LNG import activity in northwest Europe, with terminal flows reaching the highest levels since April, ING’s Warren Patterson said.
Singapore
Singapore’s LNG bunker price has risen by $11/mt to $821/mt. This increase has been driven by a higher NYMEX Japan/Korea Marker (JKM) price.
This price rise reflects market concerns about potential supply constraints, despite current demand remaining relatively subdued.
Although nuclear power and LNG are distinct energy sources, any reduction in nuclear output can indirectly increase LNG demand as the power sector seeks alternative energy sources to meet electricity needs.
Did you Subscribe to our daily newsletter?
It’s Free Click here to Subscribe!
Source: Engine.online
