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“Spark30S (Atlantic) freight rates experienced a second significant week-on-week drop, decreasing by $4,750 to $23,500 per day,” Spark’s data lead, Qasim Afghan, told LNG Prime on Friday.

He said that Spark25S (Pacific) rates dropped by $750 to $26,750 per day.
US LNG cargoes head to Europe
In Europe, the SparkNWE DES LNG dropped compared to $12.359/MMBtu last week.
“The SparkNWE DES LNG front month price for May is assessed at $12.044/MMBtu,” Afghan said.
He said the discount to the TTF is “currently at $0.73/MMBtu, over 40c wider than this time last year and continuing to indicate increased demand for LNG delivery slots in NW-Europe.”
“The US front month arb to NE-Asia (via the Cape of Good Hope) increased to -$0.28/MMBtu, and continues to point to Europe albeit more marginally as compared to the last two weeks,” he said.
“Similarly, the Nigerian front month arb to NE-Asia has increased to $0.036, opening up again for the first time since mid-March and now pointing to Asia,” Afghan added.

Data by Gas Infrastructure Europe (GIE) shows that volumes in gas storages in the EU rose from last week and were 34.35 percent full on April 2.
Gas storages were 33.62 percent full on March 26, and 59.35 percent full on April 2, 2024.
JKM
In Asia, JKM, the price for LNG cargoes delivered to Northeast Asia in May 2025 settled at $13.080/MMBtu on Thursday.
Last week, JKM for May settled at 13.085/MMBtu on Friday, March 28.
Front-month JKM dropped slightly to 13.075/MMBtu on Monday and it rose to 13.225/MMBtu on Tuesday, while it dropped to 13.185/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-$12s on March 28 from high-$13s the previous weekend.”
“JKM fell throughout the week. In the first half of the week, it fell due to the progress in negotiations between the US and Russia over the war in Ukraine and the resulting agreement by both Ukraine and Russia on a ceasefire in the Black Sea, and the price was below $13 on the 26th. Thereafter, there was no significant change in fundamentals through the second half of the week, and it continued to fall slightly,” Jogmec said