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Spark’s data lead, Qasim Afghan, told LNG Prime on Friday that Spark30S (Atlantic) rates dropped $3,000 week-on-week to $94,000 per day.
Afghan said that Spark25S (Pacific) rates were flat at $73,750 per day.
High fixing activity in Atlantic
“High fixing activity has cleared the long list of active requirements seen over the past weeks in the Atlantic,” Fearnley LNG said in its weekly LNG report on Thursday.
“As the market pauses for breath and the number of firm cargoes thins, headline rates have dipped slightly – while still maintaining a significant premium to the East. Availability has widened for mid/late-August laycans, but charterers requiring worldwide redelivery flex will be constrained by Autumn backstops for most opening tonnage,” the Oslo-based advisory and brokering firm said.
According to Fearnley LNG, a slowdown in Pacific requirements and fixing activity has bolstered the TFDE availability lists in the East.
“Conversely, with 2-strokes being enticed West, securing larger tonnage for 2H August laycans proves more of a challenge. Competition for cargoes is putting downward pressure on TFDE rates, with 2-stroke owners also needing to sharpen to compete for smaller cargoes,” it said.
Fearnley LNG said that delivered LNG price continues to rally, and this week saw the most expensive cargo per MMBtu since 2022, at $21.88.
“These levels are justifying charter rates at a significant premium to the levels otherwise expected in a market that is structurally oversupplied. With pricing unlikely to dip significantly as we head towards Northern Hemisphere winter, it will be a fascinating second half of the year,” Fearnley LNG said.
“Certain portfolio players continue to release tonnage on multi-month and 1-year bases, with fixing rates below current spot rates. This does signal bearish sentiment into next year, although it is not clear-cut yet how different trading strategies will play out in the coming months and thus whether there will be more demand building as LNG players shape up for winter,” Fearnley LNG added.
European price rally
In Europe, the SparkNWE DES LNG jumped compared to last week.
“The SparkNWE front month DES LNG price for August delivery is currently assessed at TTF-$0.110, narrowing for a third consecutive week and at its narrowest basis since mid June. The outright NWE DES LNG price is now at $20.518/MMBtu, rallying $2.300 week-on-week and now reaching similar highs seen in March,” Afghan said.
“Spark’s US Gulf Coast prompt LNG cargo valuations increased $2.254 (+13.4 percent) week-on-week and are now priced at $19.048/MMBtu as of yesterday’s close – the highest USGC prompt cargo valuation since Jan 2023,” he said.
Moreover, Afghan said that “the US prompt (M+1) arb via COGH widened $0.364, currently priced at -$0.641/MMBtu and now firmly pointing to Europe – the strongest signal to Europe since March.”
“The US M+1 arb via Panama remains open and firmly pointing to Asia, now priced at +$0.389/MMBtu,” Afghan said.
Data by Gas Infrastructure Europe (GIE) shows that volumes in gas storages in the EU continued to rise.
Gas storages were 54.61 percent full on July 23, 2026. The storages were 53 percent full on July 16, 2026, while the storages were 65.61 percent full on July 23, 2025.
JKM
In Asia, JKM, the price for LNG cargoes delivered to Northeast Asia in September 2026 settled at $21.825/MMBtu on Thursday.
Last week, JKM for September settled at 20.985/MMBtu on Friday, July 17.
Front-month JKM rose to 21.025/MMBtu on Monday, 21.335/MMBtu on Tuesday, and 22.000/MMBtu on Wednesday.
