According to an Engine report in Rotterdam, LNG bunker prices dropped by $13/mt this past week, settling at $783/mt. The reduction was influenced by increased gas supply from Norway, alongside milder-than-expected European weather, which lowered heating demand. Norway has boosted exports despite delays at its Troll gas field, and European LNG imports reached 1.67 million mt last week, their highest since May. Additionally, increased nuclear power output in France from October 14 is expected to reduce reliance on gas for electricity, further supporting the LNG price decrease.
Singapore’s LNG Prices Remain Steady Amid Delayed Winter Demand
In Singapore, LNG bunker prices held steady at $810/mt as warmer-than-expected temperatures delayed winter purchasing across Asia. China, post-Golden Week holiday, has resumed some LNG purchases in preparation for winter; however, its domestic gas production and pipeline imports meet much of the demand. Smaller buyers are reluctant to engage due to high spot LNG prices. This stability in LNG prices is likely to persist, with current supply levels appearing sufficient to satisfy demand in the region.
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Source: ENGINE
