Dutch and German gas spot prices lost further ground Tuesday morning, on lower demand expected for the day, while the front month lacked direction.
By midday London time, Dutch TTF spot last traded at Eur14.30/MWh, down 20 euro cent compared with Monday's close.
On the German markets, GASPOOL and NetConnect day-ahead edged 10 euro cent and 5 euro cent lower, respectively, to Eur14.55/MWh and Eur14.575/MWh.
End of day demand was forecast to tick down compared with Monday, while no unplanned outages were expected in Norway.
Eclipse Energy, an analytics unit of Platts, forecast at around midday London time domestic consumption in the Netherlands at 85.3 million cu m, down from 96.6 million cu m Monday. In Germany, Eclipse forecast consumption for Tuesday at 273.1 million cu m, up from 283 million cu m Monday.
Eclipse's short-term demand model is calculated from demand, temperature and wind speed outturns in addition to deviations between weather forecasts and these last outturns.
CustomWeather forecast temperatures in Amsterdam at 8 degrees Celsius above the 7/2 C high/low norm Tuesday and 7 C above Wednesday, while Berlin was predicted at 9 C and 6 C above the 4/-1 C seasonal norm on the same days.
Temperatures were expected to be mild until at least the end of the week.
On the supply side, real-time Norwegian flow rates into Emden-Dornum on the Dutch-German border were up about 3.5 million cu m, at 149.5 million cu m/day at around midday London time, according to network operator Gassco.
Russian exports to Europe were indicated at 258 million cu m/day Tuesday, compared with 280 million cu m Monday, while Dutch production was nominated at 125 million cu m/day, compared with 145 million cu m Monday, according to Eclipse Energy.
German stock levels were 75% full Tuesday at the opening to reach 16.7 Bcm. Shippers injected 37 million cu m, while they withdrew 18.4 million cu m only, according to Gas Storage Europe.
By midday London time, TTF January last dealt up 2.5 euro cent at Eur15.125/MWh.
Market saw a fair value for NCG front month at Eur15.30/MWh at about midday, while the contract closed at Eur15.35 Monday.
