Americas News
LNG Bunker Prices Jump 170% in Vancouver
A pipeline disruption in British Columbia has caused November spot LNG bunker prices in Vancouver to spike.
This month's LNG-380e price is up 170% to $726.97, vs $262.82 last month, while LNG-MGOe jumps to $760.99 from $275.11 in October.
LNG-380e is the price for an amount of LNG that delivers the energy equivalent of one metric tonne of IFO380 bunker fuel, while LNG-MGOe is the price for an amount of LNG that delivers the energy equivalent of one metric tonne of MGO.
The outage was caused on October 9 when a natural gas transmission pipeline owned and operated by Enbridge near Prince George ruptured.
"With this reduced supply deliverability at Sumas, daily prices spiked in October which caused the Sumas monthly price for November to also increase as a result. The only difference between the October and November LNG bunker price is this spike in the market price at Sumas," Mike Bains, Manager, Regulatory & Commercial Development, FortisBC, explained to Ship & Bunker.
Report indicate that repairs to the pipeline were completed on October 31, but that "the pipeline will not be at full capacity once it restarts. Rather, it will start at about 55% operating pressure and gradually ramp up to 80% through November."
