LONDON: British wholesale gas prices edged higher on Wednesday morning as a dip in imports from Norway led to a slightly undersupplied system. Within-day gas price up by 1.25 pence to 45.25 p/therm at 0927 GMT. Day-ahead gas price up by 0.87 p to 44.75 p/therm. Traders said forecasts of warmer-than-average temperatures later on Thursday had curbed demand for gas but that a dip in imports from Norway lad left the system undersupplied, providing support for prices.
British gas system slightly undersupplied by 4.8 million cubic metres, with supply forecast at 235.2 mcm and demand forecast at 240 mcm, National Grid data showed. Imports from Norway through the Langeled pipeline were around 50 mcm, down from around 52 mcm the previous day. Britain’s Met Office said temperatures could reach 17 degrees Celsius in the south of the country on Wednesday. November gas contract up by 0.13 pence to 50.13 p/therm. Day-ahead gas price at the Dutch TTF hub down by 0.18 euro to 16.67 euros per megawatt hour. Benchmark Dec-17 EU carbon contract up by 0.21 euro to 7.63 euros per tonne.
