Rebecca Cullen

LNG supply is forecast to be plentiful this month Conflicting supply and demand positions led to further increases in prompt and near futures gas prices on Wednesday.  LNG supply is forecast to be plentiful this month and, while the markets took some comfort from Gazprom’s capacity booking on the Yamal pipeline for December, quantities were […]

It was a session of wide intra-day swings on Tuesday It was a session of wide intra-day swings on Tuesday for the front of the NBP curve as early gains were reversed very late in the session with the remaining three winter months settling down day on day.  The front month January, peaked at 258.88p, […]

Wind generation was down to half Friday’s levels Demand on the UK gas system rose to almost 350MCM, or 60MCM above the seasonal norm yesterday.  Temperatures remained below normal and wind generation was down to half Friday’s levels in the morning, although wind did pick up in the afternoon.  Friday’s decline in gas prices was […]

Gazprom has booked no firm capacity  A variety of factors were at play on the markets on Friday.  In another bullish development, it was revealed that Gazprom has booked no firm capacity on the Yamal link to Germany for December.  A more bearish indicator came from weather forecasts which predict temperatures returning to normal this […]

 Some decoupling of gas and carbon prices While low temperatures and a high wind-chill factor ensured strong demand for heating yesterday, overall demand on the UK gas system fell below 300MCM as wind generation rose sharply.  A further surge in carbon prices pushed power prices higher on Thursday but the UK gas market resisted the […]

The gas market opened relatively flat Following the strong gains during the previous session the gas market opened relatively flat with contract moving between modest gains and losses over the course of the morning session.  The supply/demand balance on the day was quite positive with the UK gas system operating with a 14MCM surplus.  This […]

Gas demand was over 10% above the seasonal norm Gas demand was over 10% above the seasonal norm of 280MCM on Tuesday as cooler temperatures and low wind generation added to the demand.  The prompt market rose by an average of 12.00p per therm in response to the forecast for the cold snap to run […]

Demand on the UK gas system rose As temperatures across the UK and Ireland fell below the seasonal norm on Monday, demand on the UK gas system rose to over 300MCM for the first time this winter.  The system was initially well-supplied but rising demand created a supply deficit of 4MCM by close of business.  […]

 A dip in temperatures is forecast to increase gas demand Fears for the impact of renewed lockdowns in many European countries, and consequent demand suppression, fed through to the UK NBP on Friday with near contracts for the remaining winter months shedding around 20.00p.  With Austria, Belgium, Germany and the Netherlands all invoking various degrees […]

 NBP gas futures settled with minor gains NBP gas futures settled with minor gains after a volatile day of trading on Thursday while prompt prices reacted to a comfortable gas system and forecasts for cooler temperatures next week.  Gas demand was 230MCM yesterday and supplies were running with a surplus through the afternoon which pressured […]