LONDON: Prompt British gas prices rose on Friday morning, as imports from the Netherlands and Norway fell and LNG deliveries remained unscheduled. Gas for within-day delivery rose by 4.75 pence, or 12 percent, to 42.00 pence per therm by 0913 GMT, while the day-ahead contract was up 1.75 pence to 42.50 p/therm.
Britain’s gas system was undersupplied by 8.4 million cubic metres (mcm) per day, with demand forecast at 210.3 mcm and supply at 201.9 mcm, National Grid data showed. “Imports through BBL have reduced further from the already weak levels seen yesterday, with just 1.6 mcm expected through the pipeline. This is adding to pressure on intra-day supply dynamics,” said Wingas UK’s head of trading Marcel Boonaert.
Gas supplies from the Netherlands through the BBL pipeline were down from over 3 mcm the previous day, National Grid data showed. Flows from Norway through the Langeled pipeline were around 43 mcm down from over 50 mcm the previous day.