Prices of EUROPE GAS are bound by range as stable supply caps gains
The Dutch and British wholesale gasoline prices were mostly range bound on Thursday morning, despite the colder weather.
The benchmark contract for the Dutch TTF hub rose by 0.18 euros to 41.45 euro per megawatt-hour (MWh) at 0920 GMT. Meanwhile, the contract for February was up by 0.13 euro and now stands at 41.38 euro/MWh.
The day-ahead contract in Britain was 0.80 pence more expensive at 100.00 pence a therm.
The temperature in North-West Europe is forecast to be around 3 degrees Celsius below average on the day ahead, which will increase demand for heating.
Georg Muller, a meterologist at LSEG, says that temperatures will remain at or above normal, but there won't be any major cold snaps until at least early January.
Gas traders said that there was a slight temperature drop, but that the supply of gas is still adequate. He also predicted prices to stay in a range.
Norwegian gas exports are steady to continental Europe, but liquefied gas has increased by 50 gigawatts per day (GWh/d), to 1,809 GWH/d from yesterday.
Robert Fico, the Slovak prime minister, will meet with Ursula von der Leyen, President of the European Commission today to discuss alternative solutions.
The deputy energy minister of Ukraine said on Wednesday that the country could work with Poland to develop an alternative plan to replace the loss to Europe of Russian gas transit routes via Poland.
The model envisages a cooperation between Ukraine's underground storage facilities for gas and LNG terminals located in Poland.
In its session scheduled for Friday, the German Bundestag will vote on a proposal to change the law regarding the removal of a domestic storage charge on foreign buyers at border crossings and virtual trading centers.
The Czech Republic announced earlier this week that Germany had assured it it would abolish the fee. The benchmark contract on the European carbon markets was up by 0.41 euros at 65.27 euro per metric ton.
(source: Reuters)
