LNG

The premium of Asian LNG benchmark JKM over Dutch TTF for December 2026 delivery has increased to $1.025/MMBtu, its highest level since May, pricing agency Spark Commodities said. Despite the widening spread, flexible U.S. cargoes for December delivery remain economics-wise directed towards Europe rather than Asia, according to Spark's intraday fair-value curves and arbitrage breakeven. "The JKM-TTF spread would have to increase a further $0.450 in order to open up the US arb to Asia via the Cape of Good Hope," Spark said in market commentary published this morning.