Last week, both Atlantic and Pacific rates experienced an increase.
“Spark30S Atlantic rates softened this week, falling $5,500 to $69,750 per day,” Edward Armitage, Spark’s senior analyst told LNG Prime on Friday.
On the other hand, Spark25S Pacific rates fell week-on-week for the first time since June, down $3,750 to $83,000 per day, he said.
In Europe, the SparkNWE DES LNG front dropped this week.
“The SparkNWE DES LNG front month price for September delivery is assessed at $12.608/MMBtu, falling by $0.109/MMBtu week-on-week although standing up $2.628/MMBtu (26 percent) from the 25th July,” Armitage said.
“Meanwhile the discount of NWE DES LNG to the TTF widened slightly this week, currently assessed at $0.140/MMBtu, up from $0.100/MMBtu last week,” he said.
European prices were rising in the prior two weeks due to geopolitical risks in the Middle East and fears of supply disruptions.
Data by Gas Infrastructure Europe (GIE) shows that volumes in gas storages in the EU continued to rise and were 88.47 percent full on August 14.
Gas storages were 86.65 percent full on August 7, and 89.73 percent full on August 14, 2023.
In Asia, JKM, the price for LNG cargoes delivered to Northeast Asia, for September settled at $12.778/MMBtu on Thursday.
Last week, JKM for September settled at 12.550/MMBtu on August 9.
Front month JKM rose to 12.625/MMBtu on Monday and it rose to 12.655/MMBtu and 12.720/MMBtu on Tuesday and Wednesday.
State-run Japan Organization for Metals and Energy Security (JOGMEC) said in report earlier this week that JKM for last week rose to mid-$13s on August 8 from high-$12s the previous weekend, the highest since December 2023.
“For the first half of the week, there was a lack of buying interest in East Asia and modest price movements, but the JKM rose sharply on the back of heightened geopolitical risks following the August 7 attack of Russia’s Kursk region by Ukrainian troops,” JOGMEC said.
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