Rotterdam's LNG bunker price has shot up after Russia ceased gas supply through Ukraine.

Changes in weekly LNG bunker prices:

• Rotterdam up by $84/mt to $848/mt
• Singapore up by $4/mt to $864/mt

Rotterdam

Rotterdam’s LNG bunker price has surged $84/mt higher over the past week, to $848/mt now. This sharp increase is linked to a rise in the front-month Dutch TTF Natural Gas contract, a key benchmark in the European gas market.

Front-month TTF has climbed by about 8% in the last week, driven by the halt in Russian gas supplies via Ukraine. This disruption has tightened the LNG market and pushed prices higher.

The LNG market strengthened “after confirmation that Russian pipeline flows via Ukraine were halted with the expiration of Gazprom’s transit deal with Ukraine,” ING Bank analysts Warren Patterson and Ewa Manthey noted.

Forecasts of colder weather in Europe in the coming weeks have also supported LNG prices.

Singapore

Singapore's LNG bunker price has remained largely stable over the past week. This reflects high inventories and sluggish demand in northeast Asia.

Japan’s Ministry of Economy, Trade and Industry (METI) reported that LNG inventories for power generation were at 2.07 million mt as of 22 December, a slight decrease of 160,000 mt from the previous week, according to the Japan Organization for Metals and Energy Security (JOGMEC).

Regional LNG bunker prices are typically tied to NYMEX Japan/Korea Marker (JKM) values. The front-month JKM contract edged up by just $0.09/MMBtu to $14.38/MMBtu during the same period.

By Tuhin Roy

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