Gas system long – DMR

The gas system is oversupplied this morning, according to npower’s daily market report. The linepack is forecast to close 3mcm long. Temperatures remain above average and are set to be […]

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The gas system is oversupplied this morning, according to npower’s daily market report.

The linepack is forecast to close 3mcm long.

Temperatures remain above average and are set to be milder for the next couple of weeks.

LNG send-out has picked up this morning with South Hook currently flowing at 51mcm.

Alex Guiot from npower’s optimisation desk said: “There are a further two tankers expected to dock at South Hook before next week so we should see healthy LNG output for the next couple of weeks.”

Norwegian flows through the Langeled pipeline remain in line with yesterday’s levels at 52mcm. Mr Guiot added: “[They] appear to be unaffected by the unplanned incident at a Norwegian field which has seen flows cut by 10mcm a day.”

 

Exports to the continent are expected to pick up to more than 33mcm.

Gas and power prices have opened lower. Ms Guiot went on: “Margins on the power system have tightened today to just 5.7GW as wind generation continues to disappoint, falling below forecasts at just 585MW currently.”

The French interconnector capacity continues to be restricted to 1,500MW which has meant healthy levels of gas-fired generation has had to cover the shortfall.

The pound has strengthened and is currently trading at €1.40. Oil is trading at $48.60 a barrel (£31/Bbl).