Gas market slow to get trading – DMR

The gas market is slow to get trading, with contracts lower than last night’s close. The current linepack for the UK is more than 31mcm long, according to npower’s daily market report. Another Norwegian […]

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By Jonny Bairstow

The gas market is slow to get trading, with contracts lower than last night’s close.

The current linepack for the UK is more than 31mcm long, according to npower’s daily market report.

Another Norwegian outage ending at Kvitebjoern is supporting this. Langeled flows as a result are almost at capacity, at around 70mcm. LNG send-out from South Hook is consistent around the 15mcm mark. Two tankers were confirmed for arrival yesterday with a couple of potentials on the horizon.

The peak power margin for later today is just over 12GW.

Sam Hill from the Optimisation Desk states wind generation is at 900MW.

 

Gas-fired power generation is at 19GW, making up 55% of the stack.

The Dutch interconnector has returned to near capacity imports whereas the French is now importing at 75% of its capacity.

As oil traded above the $50/bbl (£35.31/bbl) mark producers were spurred on to begin drilling. This increased rig count weighed in on supply which saw oil fall yesterday; today it is trading at $49.75/bbl (£35.13/bbl).

Mr Hill adds the pound is currently valued at €1.256 and $1.415. A run of UK data announcements out later this morning will provide further direction.