Rebecca Cullen

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 […]

Prices fell back in late trading to close fractionally lower The 15% rise in winter gas prices on Tuesday, following the German decision to delay certification of the Nord Stream 2 pipeline, was added to in early trading on Wednesday.  The December contract hit an intra-day high of 255.00p but prices fell back in late […]

 UK gas prices opened firmer on Tuesday morning UK gas prices opened firmer on Tuesday morning as the market extended gains from the previous session.  Some of this price movement was linked to the ramping up of European Union sanctions against Belarus and the possible response in terms of gas supplies via that country.   Prices […]

Gas prices rose on Monday Gas prices rose on Monday as news emerged that Gazprom has booked no additional capacity on pipeline entry points to Western Europe for December.  This suggests Gazprom’s storage facilities in Germany and Austria will remain depleted over the winter months and contracts for the winter months at the NBP gained […]

Mild weather reduced gas demand Several unplanned outages on Norwegian facilities reduced gas supply to Germany, Belgium and the Netherlands on Friday and exports via UK interconnectors stepped up sharply.  Wind generation levels of over 13GW and mild weather reduced gas demand on the day and Western European gas markets traded within tighter margins despite […]

The near curve rebounded yesterday After two days of declines the near curve rebounded yesterday following renewed concerns for winter gas supplies.  Russian gas flows to Germany through Poland fell yesterday which raised concerns of a slower restock in European gas storage facilities.  Later threats of cutting off gas supplies to Europe from the Belarus […]

 Gazprom’s storage in Germany disappointed the markets yesterday The much-anticipated arrival of Russian gas for injection to Gazprom’s storage in Germany disappointed the markets yesterday with only minimal quantities flowing.  Net storage volumes actually decreased yesterday as withdrawals outstripped injections and early bearish sentiment on European gas markets was softened.  Near futures prices which had […]

 Flows of Russian gas came through the Yamal pipeline Arriving a day late, the resumption of Russian gas flows into Germany was a welcome development albeit the quantities proved to be disappointing.  Flows of Russian gas came through the Yamal pipeline and resulted in some positive sentiment across broader European markets.  UK NBP gas contracts […]