LNG bunker prices have come up across regions as Russia’s gas deal with Ukraine breaks down.

Changes in weekly LNG bunker prices:

• Singapore up by $32/mt to $860/mt
• Rotterdam up by $8/mt to $764/mt

Singapore

In the past week, Singapore’s LNG bunker price has bounced back to claw back half of the value it lost in the preceding week.

LNG bunker prices in the region are typically based on underlying Japan/Korea Marker (JKM) values, and the front-month JKM contract has risen from $13.67/MMBtu to $14.29/MMBtu in the past week.

An impasse in Russia's gas deal with Ukraine for supply to Europe has also had a knock-on effect to support Asian gas prices.

Rotterdam

Rotterdam’s LNG price has come up with the front-month Dutch TTF Natural Gas as Russia and Ukraine are unlikely to reach a deal for gas transits via Ukraine to Europe when their current deal is about to expire.

Russian President Vladimir Putin says time has run out for a renewal, and as things stand landlocked countries like Austria, Hungary and Slovakia will have to look elsewhere for gas.

Several gas pipelines from Russia to Europe - like Yamal via Belarus and Nord Stream in the Baltic Sea - have already been shut since Russia invaded Ukraine in 2022. Most of the EU has weaned off Russian gas, and replaced it with gas from the US, Norway and Qatar.

By Erik Hoffmann

Please get in touch with comments or additional info to news@engine.online