LNG. File Image. Image Credit: Ship & Bunker
Rotterdam's LNG Bunker prices fell back to a five-week low Monday, after jumping last week to new highs.
Ship & Bunker data assessed in cooperation with local LNG bunker supplier Titan LNG showed this week's LNG-380e price at $1396/mt (the price for an amount of LNG with the same energy as 1 mt of traditional fuel oil bunkers), down from last's week's high of $2053/mt.
Geopolitical issues and disruptions to the supply / demand balance in Europe have caused a much publicized spike in gas prices, which have surged since the summer.
Having started the year at an LNG-380e price of $365/mt (vs VLSFO in Rotterdam at $391/mt) LNG was priced lower than oil bunkers until June, after which LNG-380e prices broke the $1000 barrier in September before passing the $2000 mark last week.
Demand for LNG has continued to remain robust, however, with Rotterdam official figures showing Q3 LNG bunkers sales gaining 338.6% to 213,250 m3, the three month total being higher than the Port's total annual sales in 2020.