Gas prices could rise this week – Y report

Gas prices could rise this week, according to Inenco. Energy Trader Kayleigh Winstanley said: “We had an unplanned outage in Nyhamna, gas processing facility in Norway, which has reduced flows into the country […]

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By Jacqueline Echevarria

Gas prices could rise this week, according to Inenco.

Energy Trader Kayleigh Winstanley said: “We had an unplanned outage in Nyhamna, gas processing facility in Norway, which has reduced flows into the country by 40%.

“We’ve also got a lot of planned maintenance towards the mid and end of this week, which for 24 hours we will see Norwegian flows cut by 100%.”

 

Ms Winstanley added: “We have a comfortable LNG schedule for this week and indeed the rest of May however temperatures are set to fall.”

Due to the cold temperatures and reduced Norwegian flows, prices have increased but the rise could be capped following the LNG supply.

It is a good time to buy for fixed-priced customers and “time to consider reducing exposure” for flexible contract customers, said Ms Winstanley,