Near-term UK wholesale gas prices boosted in early Monday trading, with the UK gas system undersupplied early on with more support offered from an expansion of the Skarv gas area blackout until following week.
Within-day gas rates were seen trading at 54.85 pence/therm at 11:00 am UK time, a gain of 1.85 p/th from Friday's closing rate of 53 p/th, with the UK gas system seen 24 million cubic meters short by the National Grid-- day- in advance was done at 54.30 p/th compared with the previous analysis of 53.10 p/th.
Grid data at 10 am showed that UK gas need was forecast at a strong 242 million cu m, broadly according to the seasonal standard, with physical circulations down at 218 million cu m.
Norwegian gas circulations were performing at 98 million cu m/day according to Norwegian gas operator Gassco, the same as Friday's levels however down on the 109 million cu m from Thursday, information from Platts device Bentek Energy showed.
drilling fluid additives was extended until November 19 after having actually been expected back Monday early morning, Gassco validated.
UK gas manufacturing is nominated at 77 million cu m Monday, according to Bentek, somewhat lower than the 82 million cu m and also 80 million cu m seen on Saturday as well as Sunday respectively.
Imports from the Netherlands by means of the Bacton BBL pipe were going for 7 million cu m/d at 10 am after import rates had actually been as high as 18 million cu m/d overnight-- this compares to the 20 million cu m from Friday.
LNG sendout has actually boosted because of the undersupply despite both the Isle of Grain and Dragon LNG terminals non-active Monday early morning with South Hook sendout prices at 29 million cu m/d.
The Qatari Aamira vessel berthed at South Hook Monday early morning with the Al Samriya as a result of comply with later in the week.
Interconnector exports to the Continent are nominated at a simple 1 million cu m according to IUK, similar to the degrees taped by IUK over the previous three days.
Bentek reports UK LDZ gas need nominations for Monday at 154 million cu m, with gas-for-power need at 37 million cu m, in accordance with Friday's demand degrees Grid information revealed.
Longer-term gas agreements were little altered in early trading in spite of oil rates rebounding from Friday's losses-- front-month December was changing hands at 55.30 p/th with front-season Summer 15 valued at 52.15 p/th.
UK gas storage centers remain well stocked ahead of the greater demand winter months with 4.923 billion cu m in supply, 99.6% capacity-- Easington Rough supplies remain above 100% capability at 3.771 Bcm.
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