LONDON: British spot gas prices rose on Monday morning as maintenance reduced imports from Norway and an unplanned outage cut Britain’s domestic supplies of gas.
Gas for within day delivery was at 41.18 pence per therm at 0758 GMT, up 1.18 pence since their last settlement. .
Gas for delivery on Tuesday was up 1.05 pence at 41.20 pence per therm.
With supply flows at about 206.3 million cubic metres (mcm) per day on Monday and demand expected to be about 237.4 mcm, the system was 31.1 mcm undersupplied, National Grid data showed.
Imports from Norway via the Langeled pipeline, Britain’s main sub-sea gas import route, were around 40 mcm on Monday morning, National Grid data showed, down from levels over 60 mcm during the previous day.
Norwegian imports fell after maintenance at the country’s gas fields cut output by 52 mcm a day, while an unplanned outage at the Skarv field cut capacity by a further 7.8 mcm, operator Gassco said in a market update.
Britain’s domestic gas output was also down due to an unplanned outage at TGPP’s Teesside gas processing plant.
Flows through Teesside were at 2 mcm on Monday morning according to National Grid data, down from around 8 mcm.
The outage was reported on Sunday 0400 GMT, and was now expected to last for 36 hours, TGPP said.
Gas prices further along the curve also edged higher, with the November contract up 0.60 pence at 41.00 pence per therm.
In the Netherlands, the day-ahead gas price at the TTF hub was 0.25 euros higher at 18.58 euros per megawatt-hour (MWh).
