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Dutch, German gas prices lifted on Norway outage, NBP strength

Increase font size  Decrease font size Date:2014-11-05   Views:505
Dutch and German gas prices were higher Monday in line with sharply firmer NBP prices on a tight system driven by cooler weather and unplanned outages on the Norwegian continental shelf.

By midday UK time, the TTF day-ahead last dealt Eur2.525 higher day on day at Eur22.275/MWh, while the corresponding German GASPOOL and NetConnect were up Eur2.375 at a parity of Eur22.375/MWh.

The UK NBP day-ahead contract was 4.8 pence/therm higher at 52.65p/th, supported by a system nearly 20 million cubic meters short amid Norwegian supply infrastructure outages.

Norwegian network operator Gassco reported issues at the Skarv field and the Kollsnes processing terminal.

Skarv was suffering process problems, with a volume impact of 10.9 million cu m/day, that began Sunday and were expected to last until 6 am CET (0500 GMT) Tuesday.

The Kollsnes terminal is due for corrective maintenance, with an impact of 16.5 million cu m/day, lasting from 6 am CET Monday to 6 am CET Wednesday.

Real-time Norwegian flows into Emden-Dornum on the Dutch/German border were at just under 123 million cu m/day rates by midday UK time, down around 20 million cu m from last week's levels.

Despite the outages, Norwegian imports into the Netherlands were nominated steady from Friday's levels at 49 million cu m.

However, German imports from Norway were nominated 18 million cu m lower day on day at 68 million cu m.

The Dutch system was well supplied and nominated to export 18 million cu m to the UK Monday, according to Platts unit Bentek Energy.

Meanwhile, Russian flow nominations into western Europe stand at 218 million cu m after last week's gas price deal between Russia and Ukraine.

CustomWeather forecast temperatures in Amsterdam at 5 C and 3 C above seasonal norms Monday and Tuesday, respectively, while Berlin was pegged at 7 C and 5 C above norms for these days.

On the curve, TTF December last dealt by midday Eur1.75 up day on day at Eur23.30/MWh, while GASPOOL December was up Eur1.45 to hit parity with the TTF.

NCG December was up by Eur1.675 at Eur23.575/MWh.
 
 
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