Europe Gas: Prices rise on lower flows and wind output

Fluxys Belgium SA

14/06/2022 10:17

LONDON, June 14 (Reuters) - British and Dutch wholesale gas
prices rose on Tuesday morning due to lower Norwegian and
Russian flows and weak wind output.
    The British gas contract for within-day delivery
 TRGBNBPWKD  rose by 7.25 pence to 157.25 pence per therm by
0857 GMT, while the weekend contract  TRGBNBPWE  was up 1.00
pence at 130.00 p/therm.
    The British gas system was under-supplied by 11 million
cubic metres (mcm), with flows forecast at around 208 mcm/day
and demand forecast at 219 mcm, National Grid data showed.
    Flows through the Langeled pipeline were down 4 mcm at 17
mcm/day. Refinitiv gas analysts said they expected flows to
increase tomorrow as outages at the Troll field and Kollsnes gas
processing plant ease.  GAS/OUT 
    In the Dutch gas market, the July contract  TRNLTTFMc1  was
2.60 euros higher at 86.80 euros per megawatt hour (MWh) and the
September contract  TRNLTTFMc3  was up by 2.87 euros at 90.22
euros/MWh.
    Wind output in Britain and north-west Europe is low,
increasing gas-for-power demand, but wind speeds are expected to
recover towards the weekend and next week.
    Nordstream 1 flows are lower than usual at 51,987,834
kilowatt hours per hour. 
    Refinitiv gas analyst Kasia Piaskowska cited the German
regulator that reduced flows are due to the halt of in
deliveries to the Netherlands and Denmark.
    In the European carbon market, the benchmark contract
 CFI2Zc1  edged up by 0.87 euro to 82.41 euros a tonne.

 (Reporting by Nina Chestney)
 ((nina.chestney@thomsonreuters.com;
nina.chestney.thomsonreuters.com@reuters.net))