LNG bunker prices rise in Rotterdam as Middle East tensions tighten gas markets

International Shipping News, 01/09/2026

Weekly changes in LNG bunker prices:

• Rotterdam up by $67/mt to $1,346/mt
• Singapore up by $1/mt to $1,443/mt
• Baltics up by $64/mt to $1,449/mt

Rotterdam

Rotterdam’s LNG bunker price rose by $67/mt over the week, following gains in the front-month Dutch TTF natural gas contract. Over the same period, TTF increased by about 1% to $23.63/MMBtu ($1,229/mt).

According to the Japan Organization for Metals and Energy Security (JOGMEC), the rally in TTF prices came “as geopolitical risk intensified amid continued tensions between the US and Iran.”

Mind Energy said, “The US and Iran might – or might not – start negotiating again at some point, but for now, nothing suggests a reopening of Hormuz is right around the corner.”

Two analysts from ING Bank said, “European gas prices also jumped… as hopes of a resumption in US/Iran talks faded.”

JOGMEC added that “competition with Asian buyers for LNG cargoes intensified and uncertainty surrounding developments in the Middle East persisted. Additional support came from unplanned maintenance at Norway’s Asgard gas field.”

International Energy Agency gas analyst Greg Molnár said, “Tightening supply fundamentals have coincided with stronger European gas demand, up… amid higher gas use in the power sector,” which has added upward pressure on TTF.

The move also reflects how closely bunker fuel pricing is tied to the broader gas market: when benchmark European gas values firm, LNG bunker costs in hubs such as Rotterdam tend to follow, especially during periods of tighter LNG availability across regions.

EU underground gas storage stood at 64.4% on 28 August, according to Gas Infrastructure Europe. That was up from 62.3% a week earlier, but still 16.7% below the level a year earlier.

ING Bank analysts said European gas storage remains tight and that the region will struggle to reach the lower storage target of 75% ahead of the heating season.

Singapore

Singapore’s LNG bunker price was broadly steady over the past week.

The front-month NYMEX Japan/Korea Marker (JKM) contract rose by $1.24/MMBtu over the week. However, that move was offset by an approximately 4% drop in the assessed bunker delivery premium, which now stands at $4.58/MMBtu ($238/mt).

As a result, Singapore’s LNG bunker price premium over Rotterdam narrowed sharply, falling from $163/mt to $97/mt over the week. Singapore’s price remained broadly stable while Rotterdam’s increased.

JOGMEC said that “a growing sense of tight supply and demand… as well as intensified competition for LNG procurement as European buyers built up inventories in anticipation of winter demand and increased buying driven by concerns over the situation in the Middle East,” supported JKM.

ANZ Bank senior commodity strategist Daniel Hynes said, “The lack of progress towards a Middle East peace deal also pushed natural gas prices higher in… Asia.”

Greg Molnár said the rise in JKM reflects “an increasingly fierce competition between Asia and Europe for flexible LNG cargoes.”

Elsewhere in LNG bunkering

The European Commission has approved the joint venture between TotalEnergies and CMA CGM, paving the way for further expansion of LNG bunkering operations across the EU.

Norwegian shipping company Höegh Autoliners has ordered six additional LNG dual-fuel pure car and truck carriers (PCTCs) from China Merchants Heavy Industry (Jiangsu).

Chinese shipbuilder Nantong CIMC Sinopacific Offshore & Engineering (CIMC SOE) has started construction of two 20,000-cbm LNG bunker vessels.

Indian state-owned gas utility GAIL (India), Deendayal Port Authority (DPA) and classification society DNV have signed an agreement to assess the development of an LNG bunkering facility at Kandla Port.

The US Federal Maritime Commission (FMC) has upheld the inclusion of LNG and bio-LNG in the IMO’s Net-Zero Framework (NZF).

Source: By Tuhin Roy, ENGINE,