British prompt gas prices rose on Monday as an unexpected outage at Norway's Nyhamna gas processing plant added to other field maintenance in the Nordic country, cutting piped flows further and reducing supply availability.
* Britain's day-ahead gas price rose by 0.70 pence to 25.00 pence per therm by 0822 GMT.
* Gas for immediate delivery was up by 0.50 pence at 24.50 pence per therm.
* Reduced supplies from Norway were the main reason prices in Britain declined on Monday, a UK gas trader said.
* Britain's total imports from Norway were expected at 36 million cubic metres (mcm) on Monday, 23 mcm short of Friday's levels.
* The reason Norwegian supplies were so low was an unexpected outage at the country's Nyhamna gas processing plant due to a compressor failure. The outage is cutting output by 18 mcm per day and is expected to last until the end of the week.
* Nyhamna's outage added to ongoing maintenance at Norway's giant Troll gas field and caused flows to Britain via Langeled, the largest pipeline between the two countries, to decline to 17 mcm/day, from 41 mcm/day on Friday.
* Britain's gas system was only slightly oversupplied by 3.5 mcm as a result on Monday, with demand forecast at 156.2 mcm and supply at 159.7 mcm/day, according to National Grid data.
* Power generation from wind turbines is also expected to decline on Tuesday and usually lower wind output means more demand for gas from power plants.
* Peak wind generation is forecast at around 10.2 gigawatts (GW) on Monday, but is expected to fall to 4.3 GW on Tuesday, Elexon data shows.
* Average daily temperatures in Britain are forecast to reach 15.7 degrees Celsius on Monday and are seen falling to 14.6C on Tuesday.
* Two liquefied natural gas (LNG) cargoes are expected in Britain by July 15.
* Day-ahead gas price at the Dutch TTF hub rose by 0.28 euro to 9.78 euros per megawatt hour (MWh).
* Benchmark Dec-19 EU carbon contract was up by 0.62 euro at 26.90 euros a tonne.
Comments
Comments are closed.