EUROPE GAS - Prices stable on warmer temperatures forecasts and strong LNG supply
The wholesale gas prices in the Netherlands and Britain were not much different on Tuesday morning, despite warmer temperatures and strong LNG imports.
By 0955 GMT, the benchmark front-month contract for the Dutch TTF hub had increased by 0.09 euros to 45.10 Euros per Megawatt Hour (MWh), which is $13.91/mmbtu.
The Dutch day-ahead contracts rose by 0.10 euro to 45.05 euros/MWh.
The day-ahead contract in Britain rose by 0.80 pence to 112.00 pence a therm.
In a daily note, analysts at Engie EnergyScan stated that "the fundamental context is mixed on the short-term with another upward revision of temperature forecasts for the next week as well as a relatively strong LNG schedule for the upcoming days."
They said that a strong demand for gas in the future due to low wind production and an unplanned outage of the Asgard gas fields in Norway could provide some assistance.
LSEG data shows that 11 LNG cargoes will be unloaded in Britain within the next 17 days.
Gas exports from Russia to Europe remained constant. Gazprom, the Russian gas supplier, said that it will send the same amount of gas via Ukraine to Europe on Tuesday as it did on Monday.
The benchmark contract on the European carbon markets was up by 0.54 euros at 66.91 euro per metric ton.
(source: Reuters)
