Spark’s product and pricing analyst, Janusz Rydzewski, told LNG Prime on Friday that Spark30S (Atlantic) LNG freight rates dropped for a second week, falling $5,000 week-on-week to $21,500 per day, the lowest Atlantic rate in over five months.
“Spark25S (Pacific) rates also softened, declining $3,500 week-on-week to $25,250 per day and marking a fifth consecutive weekly rate decline,” Rydzewski said.
European prices down
In Europe, the SparkNWE DES LNG dropped compared to last week.
“The SparkNWE DES LNG front month price for October decreased by $0.315/MMBtu to $10.517/MMBtu this week,” Rydzewski said.
Moreover, the basis of DES LNG to TTF widened to -$0.590/mmbtu, he said.
“The US front-month arb to NE-Asia (via the Cape of Good Hope) is priced at -$0.145/MMBtu, still incentivizing US cargoes to deliver to Europe,” Rydzewski said.
Data by Gas Infrastructure Europe (GIE) shows that volumes in gas storages in the EU fell from last week and were 79.86 percent full on September 24.
Gas storages were 81.09 percent full on September 17, 2025, and 93.90 percent full on September 24, 2024.
JKM
In Asia, JKM, the price for LNG cargoes delivered to Northeast Asia in November 2025 settled at $11.280/MMBtu on Thursday.
Last week, JKM for November settled at 11.365/MMBtu on Friday, September 19.
Front-month JKM dropped to 11.270/MMBtu on Monday. It rose to 11.355/MMBtu on Tuesday, and then dropped to 11.220/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 September 19 (November delivery) from low-$11s/MMBtu the previous weekend (October delivery).”
“JKM showed relatively calm movements throughout the week, briefly rising in the middle of the week after Indian companies purchased spot cargoes, while overall demand remained weak,” Jogmec said.
