Dutch and German gas prices continued to slide Monday morning as weather forecasts remained mild and crude oil weakness weighed on the curve.
By midday London time, Dutch TTF day-ahead slipped below Eur16.00/MWh, last trading 37.5 euro cent down from Friday's close at Eur15.95/MWh, while German GASPOOL and NetConnect last traded 42.5 euro cent and 35 euro cent lower respectively, at Eur16.075/MWh and Eur16.175/MWh.
Eclipse Energy, an analytics unit of Platts, forecast temperatures in the Netherlands at 2 degrees Celsius above seasonal norms Monday and 1.5 C above norms Tuesday. Germany was forecast 1.6 C and 3 C above norms the same days.
Temperatures are expected to rise further towards 8 C above norms in both countries by Thursday, Eclipse said.
Eclipse forecast at around midday London time domestic consumption in the Netherlands Monday at 124 million cu m, while Germany was forecast at around 330 million cu m.
Eclipse's short-term demand model is calculated from latest demand, temperature and wind speed outturns in addition to deviations between weather forecasts and these last outturns.
On the supply side, real-time Norwegian flow rates into Emden-Dornum on the Dutch-German border remained robust at around 148 million cu m/day at around midday London time, according to network operator Gassco.
Gassco continued to reported a small unplanned outage at the Karsto processing plant, with a volume impact of 5 million cu m/day, although it was not expected to last into Tuesday.
Russian exports to Europe were indicated at 268 million cu m/day, while Dutch production was nominated at 150.5 million cu m/day, according to Eclipse Energy.
Dutch net storage withdrawals were nominated at 78.5 million cu m Monday compared with just over 60 million cu m Friday.
By midday London time, TTF and NCG January both last dealt 27.5 euro cent down from Friday's close at Eur15.925/MWh and Eur16.175/MWh, respectively.
Contracts further forward also lost ground, weighed down by Brent front-month crude prices falling even further below $40/b.
TTF and NCG Summer 16 last traded 30 euro cent and 25 euro cent down from Friday at Eur15.625/MWh and Eur15.95/MWh, while TTF Winter 16 fell by 20 euro cent to Eur17.025/MWh.
