Advertisement
UK markets closed

  • FTSE 100

    8,139.83
    +60.97 (+0.75%)
     

  • FTSE 250

    19,824.16
    +222.18 (+1.13%)
     

  • AIM

    755.28
    +2.16 (+0.29%)
     

  • GBP/EUR

    1.1681
    +0.0024 (+0.21%)
     

  • GBP/USD

    1.2496
    -0.0015 (-0.12%)
     

  • Bitcoin GBP

    51,257.61
    -463.69 (-0.90%)
     

  • CMC Crypto 200

    1,331.66
    -64.87 (-4.65%)
     

  • S&P 500

    5,099.96
    +51.54 (+1.02%)
     

  • DOW

    38,239.66
    +153.86 (+0.40%)
     

  • CRUDE OIL

    83.67
    +0.10 (+0.12%)
     

  • GOLD FUTURES

    2,351.20
    +8.70 (+0.37%)
     

  • NIKKEI 225

    37,934.76
    +306.28 (+0.81%)
     

  • HANG SENG

    17,651.15
    +366.61 (+2.12%)
     

  • DAX

    18,161.01
    +243.73 (+1.36%)
     

  • CAC 40

    8,088.24
    +71.59 (+0.89%)
     
PROPERTY:

9 luxury homes to consider if money is no object

Ever thought about what a multimillion pound budget would buy you?

UK GAS-Prices fall as LNG, Britannia field restart bolster supply

Reuters - UK Focus

* Within-day down 0.95 pence at 37.75 pence/therm

* System oversupplied by 17.6 mcm

Aug 20 (Reuters) - Prompt natural gas prices in Britain fell on Thursday as deliveries of liquefied natural gas (LNG) and the restart of the Britannia gas field left the system heavily oversupplied.

Prices for within-day delivery were trading at 37.75 pence per therm at around 0730 GMT, down 2.5 percent or 0.95 pence since their last settlement.

Gas for the next-day delivery was down by 0.65 pence to 37.80 pence/therm.

Gas demand, including for export and storage, was forecast at 182.7 mcm on Thursday, while flows were expected to be 200.3 mcm/day, leaving the system 17.6 mcm oversupplied, National Grid (LSE: NG.L - news) data showed.

ADVERTISEMENT

"The strong level of LNG supply on the NBP continues, with the Aamira (LNG tanker) now confirmed as due to arrive in the UK before the end of the month and send-outs from South Hook steady at just below 60 mcm per day," a UK gas trader said.

Vessels tracking data showed the Aamira sailing through the Suez Canal on Thursday, and was likely to arrive to United Kingdom by the end of August.

Supplies from the UK Continental Shelf rose on Thursday after maintenance ended at ConocoPhillips (NYSE: COP - news) ' Britannia field. The restart of Britannia and associated fields could add up to 8 mcm/d to UKCS receipts.

Britain's biggest underground gas storage Rough is planning to reduce injection capacity by switching to a single compressor between Thursday and Saturday, operator Centrica (Amsterdam: CC8.AS - news) said.

Prices were also lower on the Dutch TTF gas market, where day-ahead TTF gas was down 0.10 euro at 19.10 euros per megawatt hour.

Russian gas flows were expected to rise to Western Europe after maintenance at the Nord Stream pipeline ended on Thursday, potentially boosting injections into storage and reducing demand for gas imports from Britain, analysts at Thomson Reuters Point Carbon said.

In Europe's carbon market, benchmark EU Allowances (EUA) were steady at 8.35 euros a tonne. (Reporting by Nerijus Adomaitis in Oslo; editing by Jason Neely)