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Spark’s data lead, Qasim Afghan, told LNG Prime on Friday that Spark30S (Atlantic) LNG freight rates fell $5,750 to $28,500 per day, marking the lowest Atlantic rates since April.
“Spark25S (Pacific) have fallen less sharply in comparison, dropping $1,000 to $32,500 per day,” he said.
European prices up
In Europe, the SparkNWE DES LNG rose compared to last week.
“The SparkNWE DES LNG front-month price for October is assessed at $10.442/MMBtu, whilst the basis to the TTF is assessed at $0.610 – this is the widest basis since May and indicates an increased demand for front-month DES LNG delivery slots in NW-Europe,” Afghan said.
Moreover, “the US front-month arb to NE-Asia (via the Cape of Good Hope) narrowed significantly this week, increasing by $0.210 and now pricing in at -$0.016/MMBtu, only marginally incentivising US cargoes to deliver to Europe,” Afghan said.
“The US front-month arb to NE-Asia via Panama experienced similar increases and is now open to Asia, assessed at $0.051/MMBtu,” he said.
Data by Gas Infrastructure Europe (GIE) shows that volumes in gas storages in the EU continued to rise and were 78.51 percent full on September 3.
Gas storages were 76.64 percent full on August 27, 2025, and 92.53 percent full on September 3, 2024.
JKM
In Asia, JKM, the price for LNG cargoes delivered to Northeast Asia in October 2025 settled at $11.245/MMBtu on Thursday.
Last week, JKM for October settled at 11.215/MMBtu on Friday, August 29.
Front-month JKM rose to 11.245/MMBtu on Tuesday, and it dropped to 11.225/MMBtu on Wednesday.
State-run Japan Organization for Metals and Energy Security (Jogmec) said in a report earlier this week that JKM for last week “fell to low-$11s/MMBtu on August 29 from high-$11s/MMBtu the previous weekend.”
“With little change in the situation of low demand and ample supply, JKM continued to decline to mid-$11s/MMBtu in the first half of the week. Then, amid high inventories, as highlighted by the information that Japan’s LNG inventories for power generation have been at the highest level in recent nine weeks, the price declined further to low-$11s/MBtu in the latter half of the week,” Jogmec said.