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“Global LNG freight rates have remained relatively steady this week, with Spark30S (Atlantic) pricing in at $36,000 per day and Spark25S (Pacific) at $33,250 per day,” Spark’s data lead, Qasim Afghan, told LNG Prime on Friday.
Last week, Spark30S (Atlantic) rates were at $35,750 per day and Spark25S (Pacific) at $33,000 per day.
European prices continue to slide
In Europe, the SparkNWE DES LNG dropped compared to last week.
“The SparkNWE DES LNG front-month price for September dropped for a second consecutive week, decreasing by $0.230 to $10.534/MMBtu, the lowest front-month price for over three months,” Afghan said.
He said that the basis to the TTF remains “fairly steady at $0.450/MMBtu.”
Moreover, “the US front-month arb to NE-Asia (via the Cape of Good Hope) widened by $0.090 this week, pricing in at -$0.165/MMBtu and still incentivising US cargoes to deliver to Europe,” he said.
“Similarly, the US front-month arb to NE-Asia via Panama is now pointing once again to Europe, assessed at -$0.053/MMBtu,” Afghan said.
Data by Gas Infrastructure Europe (GIE) shows that volumes in gas storages in the EU continued to rise and were 72.74 percent full on August 13.
Gas storages were 70.67 percent full on August 6, and 88.17 percent full on August 13, 2024.
JKM
In Asia, JKM, the price for LNG cargoes delivered to Northeast Asia in September 2025 settled at $11.910/MMBtu on Thursday.
Last week, JKM for September settled at 11.930/MMBtu on Friday, August 8.
Front-month JKM rose slightly to 11.935/MMBtu on Monday. It dropped to 11.925/MMBtu on Tuesday and rose to $11.930/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 high-$11s/MMBtu on August 8 from low-$12s/MMBtu the previous weekend.”
“JKM fluctuated slightly throughout the week, remaining in the high-$11s/MMBtu range, with sufficient supply, sluggish demand in Northeast Asia, and no major changes in fundamentals,” it said.