Dutch, German natural gas trades higher following NBP
Dutch and German near-term natural gas contracts rose Monday morning amid rising UK NBP values and continuing Norwegian outages.
By midday London time, NBP day-ahead contract last dealt 1.25 pence/ therm higher at 41.1 p/th.
Similarly, TTF spot last dealt 10 euro cent higher on the day at Eur15.275/MWh.
The corresponding German GASPOOL contract was heard 15 euro cent higher at Eur15.35/MWh, while NetConnect Germany was heard up 32.5 euro cent at Eur15.475/Mwh.
CustomWeather forecast temperatures in Amsterdam at 1 degree Celsius above seasonal norms Tuesday, up from seasonal norms Monday.
In Berlin in the GASPOOL area, temperatures were forecast at 2 C above seasonal norms Tuesday, also up from seasonal norms seen Monday.
Meanwhile, in Munich in the NCG area, temperatures were forecast to jump to 2 C above norms Tuesday, from 2 C below norms Monday.
Platts Analytics’ Eclipse Energy forecast end-of-day consumption in the Netherlands for Tuesday at 60.4 million cu m, unchanged from Monday.
Likewise, German end-of-day consumption was forecast steady at 131.3 million cu m for Tuesday.
Platts Analytics’ short-term demand model is calculated from the latest demand, temperature and wind speed outturns.
Norwegian flow rates into Emden-Dornum on the Dutch-German border were at 146.88 million cu m/d at around midday London time, down from just below 150 million cu m/d seen Friday, according to Gassco.
An unplanned outage at Norway’s Heimdal natural gas processing plant has continued into a third day, with volumes cut by 12.4 million cu m on Monday, transmission system operator Gassco said.
Further out, NBP front-month contract for September delivery rose 1.05 p/th at 41 p/th, by midday London time.
Similarly, TTF September contract traded 17.5 euro cent up at Eur15.15/MWh.
Likewise, NCG September was also seen traded 17.5 euro cent higher at Eur15.45/MWh, while the equivalent GASPOOL contract was 12.5 euro cent higher at Eur15.20/MWh.