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Spark’s data lead, Qasim Afghan, told LNG Prime on Friday that Spark30S (Atlantic) rates rose marginally by $250 to $11,500 per day.
On the other hand, Spark25S (Pacific) rates decreased by $1,250 to $29,500 per day.
European prices dip
In Europe, the SparkNWE DES LNG dropped compared to last week.
“The SparkNWE DES LNG front-month price for March, currently assessed at $10.744/MMBtu, has dropped $2.063 since its first assessment on Friday, marking the steepest drop seen since August 2023,” Afghan said.
He said that the basis to the TTF “is assessed at -$0.915/MMBtu, with this week marking the widest basis since October 2023 and indicating significantly increased demand for delivery slots into NW-Europe.”
“The US front-month arb (via COGH) for March loading is currently assessed at -$0.700/MMBtu, having narrowed $0.746 since Friday but still continuing to point US prompt cargos to Europe,” he said.
“Similarly, the Nigerian front-month arb (via COGH) has narrowed to -$0.364/MMBtu and continues to point to Europe,” Afghan said.
Data by Gas Infrastructure Europe (GIE) shows that volumes in gas storages in the EU dipped from last week and were 38.48 percent full on February 4, 2026.
Gas storages were 42.90 percent full on January 28, 2026, and 51.21 percent full on February 4, 2025.
JKM
In Asia, JKM, the price for LNG cargoes delivered to Northeast Asia in February 2025 settled at $11.080/MMBtu on Thursday.
Last week, JKM for February settled at 11.525/MMBtu on Friday, January 30.
Front-month JKM dropped to 11.150/MMBtu on Monday, 11.130/MMBtu on Tuesday, and 11.100/MMBtu on Wednesday.
Japan’s JOGMEC said in a report earlier this week that the Northeast Asian assessed spot LNG price JKM for last week rose to “low-$12s/MMBtu on January 30 from low-$11s/MMBtu the previous weekend.”
“At the beginning of the week, JKM rose to high-$11s/MMBtu on January 26, supported by a surge in European and US gas prices driven by a cold snap. Although prices fell on January 27 and 28 January as spot cargo in Asia being persistently weak, sentiment turned bullish again as expectations grew that cargoes from the Asia-Pacific region would be resold to Europe, tightening supply,” it said.
“JKM subsequently rose to high-$11s/MMBtu on January 29 and reached further to low-$12s/MMBtu demand on January 30, marking the highest level since early August amid intensifying competition for cargo procurements for Europe,” JOGMEC said.