Gas system undersupplied – DMR

The gas system has opened 4mcm short, according to npower’s daily market report. Alex Guiot from npower’s optimisation desk said this is due to the drop in Norwegian flows through […]

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By Jacqueline Echevarria

The gas system has opened 4mcm short, according to npower’s daily market report.

Alex Guiot from npower’s optimisation desk said this is due to the drop in Norwegian flows through the Langeled pipeline nominating 30mcm against 70mcm last week.

He added: “This drop is due to maintenance on the continent which is re-routing flows from the UK. Total extended work at Bacton Terminal due to offshore production halt so we won’t see any increase in Bacton Seal flows by Wednesday.”

 

The UK Interconnector exports have fallen to 28mcm.

Russian gas giant Gazprom auctioned 3.2 billion cubic meters of gas yesterday.

Mr Guiot added: “Three more auctions to be held are designed to complement its decade long practice of long term contracts mainly linked to oil. They are looking to boost their European supply by 7%.”

Wind generation is currently below 500MW but is expected to reach 3GW this afternoon whilst CCGT is producing more than 44% of the stack.

Coal and nuclear power are providing 20%.

Oil prices have dropped to the lowest this week as China’s crude imports fall, adding further pressure to the price recovery, Mr Guiot said.