Rotterdam LNG Prices Soar as Gas Supply Risks Escalate
The latest snapshot from bunker intelligence platform ENGINE shows that LNG and LBM prices have surged in Rotterdam's fuel market, driven by gas supply risks. According to the snapshot, Rotterdam's B30-LSMGO has dropped to a $37/mt discount over LNG burnt in Otto MS engines, compared to a previous premium of $90/mt.
Liquefied biomethane (LBM) premiums have also widened significantly, with prices ranging from $348-487/mt over HSFO and $233-372/mt over VLSFO. Meanwhile, LNG's discounts to LSMGO in Rotterdam have narrowed by $11-13/mt.
The market has been impacted by the closure of the East-West Pipeline in Saudi Arabia and vessel attacks near the Strait of Hormuz, driving up front-month ICE Brent futures by $10.53/bbl. The Dutch TTF gas contract has also seen a sharp rise, with Rotterdam's LNG prices increasing by $148-150/mt.