Advertisement
UK markets close in 7 hours 34 minutes
  • FTSE 100

    7,821.56
    -55.49 (-0.70%)
     
  • FTSE 250

    19,269.36
    -181.31 (-0.93%)
     
  • AIM

    740.92
    -4.37 (-0.59%)
     
  • GBP/EUR

    1.1678
    -0.0005 (-0.04%)
     
  • GBP/USD

    1.2452
    +0.0013 (+0.11%)
     
  • Bitcoin GBP

    51,811.44
    +2,622.74 (+5.33%)
     
  • CMC Crypto 200

    1,326.91
    +14.29 (+1.09%)
     
  • S&P 500

    5,011.12
    -11.09 (-0.22%)
     
  • DOW

    37,775.38
    +22.07 (+0.06%)
     
  • CRUDE OIL

    83.65
    +0.92 (+1.11%)
     
  • GOLD FUTURES

    2,403.20
    +5.20 (+0.22%)
     
  • NIKKEI 225

    37,068.35
    -1,011.35 (-2.66%)
     
  • HANG SENG

    16,227.66
    -158.21 (-0.97%)
     
  • DAX

    17,628.67
    -208.73 (-1.17%)
     
  • CAC 40

    7,946.84
    -76.42 (-0.95%)
     

UK GAS-Prompt prices up on Norwegian outages

* Norway's production, export capacity down by combined 62 mcm/day

* Within-day prices rise by 1 pence to 41.95 pence/therm (Adds Nyhamna, Sleipner, Troll, Easington, Zeebrugge outages, updates prices)

Sept 3 (Reuters) - Norwegian gas outages pushed British prompt gas prices up on Thursday, reversing losses seen in early trading and offsetting lower demand for injections.

Gas for immediate delivery rose by 1 pence to 41.95 pence per therm by 1033 GMT, while the day-ahead contract was up by 0.57 pence to 41.50 pence/therm.

The contracts traded 0.45 pence and 0.43 pence down from the previous day by 0845 GMT, before outages on the Norwegian continental shelf were reported.

ADVERTISEMENT

Production capacity at Norway's Troll and Sleipner offshore fields, as well as at the Nyhamna gas processing plant were reduced by a combined 33.7 million cubic metres (mcm) per day, Norway's gas system operator Gassco said.

The outage was caused by power loss at the Sleipner installation, affecting gas exports.

Deliveries to Britain's Easington and Belgium's Zeebrugge terminals will be down on Thursday by 18 mcm and 10.5 mcm respectively, Gassco added.

Flows via the Langeled pipeline, Britain's main subsea import route delivering gas to the Easington, dropped sharply from 71 mcm to 10 mcm by 1015 GMT.

Gas deliveries to Britain's Barrow and Theddelthorpe gas terminals from the UK continental shelf were down to zero due to planned offshore maintenance, with a total volume impact of about 12 mcm/day.

The supply loss was partly offset by Centrica (LSE: CNA.L - news) 's Rough gas storage, the biggest in Britain, reducing injections to zero due to planned maintenance, while EDF (Paris: FR0010242511 - news) 's Hole House storage was hit by an unplanned outage.

Supplies from liquefied natural gas (LNG) terminals were nominated at 39 mcm on Thursday, and could potentially rise, supported my more cargo arrivals, analysts at Thomson Reuters (Dusseldorf: TOC.DU - news) Point Carbon said.

Further along the curve, prices for delivery in October firmed by 0.05 pence to 41.65 pence/therm and those for winter delivery were steady at 44.75 pence/therm.

In the Dutch TTF gas market, prices were also lower. Day-ahead TTF gas gained 0.07 euros to 19.92 euros per megawatt hour.

In Europe's carbon market, benchmark EU Allowances (EUA) were eased by 0.04 euro to 8.13 euros per tonne. (Reporting by Nerijus Adomaitis, editing by David Evans)