European gas markets suppressed on Norwegian flow ramp-upPosted by Katz Bloom on February 3rd, 2021 European gas markets were extra subdued Thursday as Norwegian manufacturing began to ramp back up after the stormy weather that brought major production outages Wednesday. By lunchtime London time, German GASPOOL day-ahead last dealt 15 euro cents lower day on day at Eur20.30/ MWh, while its compatriot NetConnect day-ahead contract was up just 5 euro cents at Eur20.55/ MWh. The TTF day-ahead contract, nevertheless, last dealt up by 22.5 euro cents day on day at Eur20.125/ MWh, though this was likely a response to the sharp drops late Wednesday, with Thursday's very early gains bringing the TTF place much more right into line with its German equivalents. Output from the giant Norwegian Giant gas area was lowered by just 35.6 million cubic meters/day by early mid-day Thursday, compared to a 105 million cu m/day reduction Wednesday, according to network driver Gassco. Kvitebjorn's production was reduced by only 7 million cu m/day, compared to 22 million cu m/day Wednesday. Oseberg was down by around 3 million cu m/day against 5 million cu m/day Wednesday. Troll as well as Kvitebjorn are anticipated to go back to full capacity by Friday at the latest, although the Oseberg blackout can proceed until Monday, Gassco stated. Nevertheless, the Norway result ramp-up is yet to be shown in real-time flows right into Emden-Dornum on the Dutch/German border, which were at a rate of simply relatively stable with the same time Wednesday at around 75 million cu m, Gassco stated. End-of-day Norwegian imports right into Germany are nominated 14 million cu m down day on day at 42 million cu m, while Dutch Norway imports are nominated up 24 million cu m at 89 million cu m, according to Platts unit Bentek Energy. Dutch storage space withdrawals have gone back down in response to the Norwegian flow capacity hike. End-of-day internet withdrawal nominations stand at 54 million cu m/day, down from 91 million cu m Wednesday. German internet withdrawal nominations are stable at 90 million cu m. cooling tower water treatment chemicals at 3 level Celsius above the regular seasonal high and low of 6/1 C for Thursday and also Friday, while Berlin was fixed at 3 C above norms of 4/minus 2 C for Thursday and also 6 C over norms Friday. By lunchtime London time, February TTF last dealt 7.5 euro cents reduced at Eur20.375/ MWh, while GASPOOL and French PEG Nord February were down by 25 euro cents as well as 20 euro cents to Eur20.40/ MWh and also Eur20.80/ MWh, specifically.Like it? Share it! More by this author |