OSLO: Norway's pipeline natural gas exports to Europe rose to the highest level since February 2012 on Friday, which was expected to be the coldest day this winter in northwestern Europe.
Norwegian real-time gas flows were running at a rate of 353 million cubic metres (mcm) per day, with deliveries to Germany rising the most, data from the gas system operator showed.
"Today is likely to be the coldest day in North Western Europe during the current cold spell. From tomorrow, temperatures are expected to increase sharply," analysts at Thomson Reuters Point Carbon said.
While rising temperatures are expected to reduce demand, there was a risk the supply could be disrupted by stormy weather hitting western Norway over the weekend.
"The last storms at Norwegian coast in middle of January caused a number of severe outages at the Norwegian continental shelf (NCS), therefore we consider this as a risk factor for NCS production early next week," the analysts said.
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