Gas system short – DMR

The UK gas system is forecast to close 12mcm short, according to npower’s daily market report. That’s because flows from Norway through the Langeled pipeline have dropped by 32mcm. Nicholas […]

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By Jacqueline Echevarria

The UK gas system is forecast to close 12mcm short, according to npower’s daily market report.

That’s because flows from Norway through the Langeled pipeline have dropped by 32mcm.

Nicholas Morgan from the Optimisation Desk said: “Healthy nominations from the LNG terminals continue to support the UK gas system, while the IUK pipeline increases their nominations to the continent following the strengthening of the pound.”

Holford storage withdrawals are at 16mcm.

He added “the power system is reasonably comfortable” due to healthy wind generation.

 

The French and Dutch interconnectors are exporting at full capacity.

Brent oil is trading at $49.4/bbl (£34/bbl).

Mr Morgan went on: “Front-month Brent oil contracts continue to surge after reaching a six-month high yesterday.

“The US Government’s data is expected to show a drop off in crude stockpiles for a second week running, adding to the picture an easing global glut.”