LNG Bunker Snapshot: Singapore-ARA spread narrows as European gas supply concerns lift Rotterdam
Weekly changes in LNG bunker prices: ARA up by $97/mt to $1,873/mt Singapore up by $74/mt to $1,939/mt Baltics up by $97/mt to $1,976/mt ARA Rotterdam’s LNG bunker price rose for the fifth consecutive…
Rotterdam’s LNG bunker price rose for the fifth consecutive week, climbing by $97/mt week-on-week to $1,873/mt.
The rise tracked an approximately 3% increase in the front-month Dutch TTF Natural Gas contract over the week. TTF is Europe’s benchmark gas price. A higher LNG bunker premium also supported the price, rising by $0.73/MMBtu to $3.17/MMBtu ($165/mt).
TTF rose amid expectations of increased gas-fired power generation, following a decline in wind power generation and unplanned outages at Norwegian gas production facilities, according to the Japan Organization for Metals and Energy Security (JOGMEC).
“The market has moved higher, with little sign of imminent relief in Persian Gulf LNG flows,” said ING Bank head of commodities strategy Warren Patterson. He added that several unplanned outages in Norway would add to supply concerns.
This story was originally published by Hellenic Shipping News. Read the full story at Hellenic Shipping News →
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