Spark’s data lead, Qasim Afghan, told LNG Prime on Friday that Spark30S (Atlantic) LNG freight rates have risen for a second consecutive week, increasing by $5,000 to $34,500 per day amid increased spot activity.
In addition, Spark25S (Pacific) rates have increased for the first time in nine weeks, rising by $4,750 to $28,250 per day, Afghan said.
European prices down
In Europe, the SparkNWE DES LNG dropped compared to last week.
“The SparkNWE DES LNG front month price for November dropped by $0.019 to $10.421/MMBtu this week, whilst the basis to the TTF narrowed to $0.625/MMBtu,” Afghan said.
“Last Friday, the US front-month arb (via the Cape) opened to Asia once again due to an increase in the JKM-TTF premium, and has continued pointing to Asia this week, with the latest price assessment at $0.031/MMBtu,” he said.
“However, that spread has since narrowed and caused the arb to close out once again, pricing in at -$0.026/MMBtu and marginally pointing to Europe once again,” Afghan said.
Afghan said that this is the most extended pricing signal for prompt US cargoes to deliver to Asia since July 2024.
“Similarly, the US front-month arb via Panama has also remained open, pricing in at $0.091/MMBtu,” he said.
Data by Gas Infrastructure Europe (GIE) shows that volumes in gas storages in the EU decreased from last week and were 82.82 percent full on October 22, 2025.
Gas storages were 82.93 percent full on October 15, 2025, and 95.31 percent full on October 22, 2024.
JKM
In Asia, JKM, the price for LNG cargoes delivered to Northeast Asia in December 2025 settled at $11.265/MMBtu on Thursday.
Last week, JKM for December settled at 11.1145/MMBtu on Friday, October 17.
Front-month JKM dropped to 11.050/MMBtu on Monday. It rose to 11.215/MMBtu on Tuesday and dropped to 11.155/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 “rose to mid-$11s/MMBtu on October 17 (December delivery) from high-$10s/MMBtu the previous weekend (October 10, November delivery).”
“JKM fell to mid-$10s/MMBtu in the first half of the week due to sluggish demand and easing geopolitical risks following the Gaza ceasefire, but then rose to mid-$11s/MMBtu due to concerns over uncertainty caused by UK sanctions on China’s Beihai LNG terminal and the approaching of the high-demand winter season,” Jogmec said.
