LNG: East China LNG Bunker Prices More Competitive: Platts

LNG bunker prices in East China have become more competitive with the addition of a new LNG bunker barge by Shanghai SIPG Energy Service in 2024, Platts said.

• LNG bunker prices in East China were higher than in Singapore in H1 2024 due to increased costs.
• The rise in barge availability reduced spot and term contract prices for LNG bunkering in East China to below Singapore’s prices.
• The East China-delivered LNG bunker averaged $14.375/MMBtu in 2024 and $16.096/MMBtu over Jan. 2-23, 2025.
• The Platts-assessed prices for both Singapore and East China were $15.865/MMBtu on Jan. 23, 2025.
• Shanghai SIPG Energy Service added a new 14 mcm LNG bunker barge in 2024, improving supply and lowering prices.
• Ample LNG supply in China is also pressuring prices, Platts added.
• China imported around 76.65m mt of LNG in 2024, up 7.5% year-over-year.
• The Eastern Russia-China Natural Gas Pipeline became fully operational in December 2024, which should boost feedgas flows to China.