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UK GAS-Prices mixed on strong demand and higher LNG supplies

British wholesale gas prices were mixed on Thursday morning in the face of strong demand for gas from power stations and high flows from the country’s liquefied natural gas (LNG) terminals.

* The within-day contract was up 0.1 pence at 55.50 p/therm by 0948 GMT.

* The day-ahead contract was down 0.35 pence at 55.15 p/therm.

* Traders said weak output from the country’s wind farms and expectations of lower nuclear power output had increased gas demand from gas-fired power stations.

* Peak wind power generation is forecast at 3 gigawatts (GW) on Thursday and 2.3 GW on Friday, Elexon data showed.

* Six of Britain’s 15 nuclear reactors are currently offline, with Sizewell B-2 also scheduled to come offline on Friday.

* An increase in flows from the country’s LNG terminals, however, left the market slightly oversupplied. Demand was forecast at 265.5 million cubic metres (mcm) and flows at 268.1 mcm/day, National Grid data showed.

* Flows from Britain’s LNG terminals were forecast at 88 million cubic metres (mcm) on Thursday, up 12 mcm from the previous day, Refinitiv Eikon data showed.

* The Al Gattara LNG tanker is docked at the South Hook terminal while 11 more tankers are scheduled to arrive in Britain before the end of the month.

* The May contract was up 1.15 p at 50.05 p/therm.

* The day-ahead gas price at the Dutch TTF hub was up 0.11 euros at 20.52 per megawatt hour.

* The benchmark Dec-21 EU carbon contract was up 0.28 euros at 44.12 euros a tonne.
Source: Reuters (Reporting by Susanna Twidale Editing by David Goodman)

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