LONDON, June 27 (Reuters) - British prompt gas prices rose
slightly on Thursday as imports from the North Sea comfortably
met additional demand from the restart of an export pipeline to
Within-day gas traded up 0.95 pence on the
previous session at 62.35 pence per therm.
The restart of the IUK export pipeline after a two-week
maintenance outage meant that demand for gas from Britain's
network is expected to increase by 32 million cubic metres (mcm)
on Thursday and rise further on Friday, analysts at Reuters
Point Carbon said in a daily report.
In previous years the IUK export pipeline has tended to
return to pre-maintenance levels, suggesting that IUK flows to
the continent could reach 50 mcm per day this week, the report
Supply of gas into Britain's system rose by about 20 mcm on
Thursday, with flows forecast to be 217 mcm, mainly because of
increased flows from domestic fields and a rise in imports from
the Netherlands through the BBL pipeline.
Demand rose to almost 212 mcm, about 4 mcm higher than
normal seasonal demand, leaving the system slightly
Gas for day-ahead delivery traded unchanged at 62.70 pence
Further out, gas contracts traded higher as Brent crude
prices gained for a fourth day to breach $102 as weak U.S.
economic data eased concerns that the U.S. Federal Reserve will
soon reduce the monetary stimulus that has underpinned
Front-season gas was up 0.30 pence at 71.85
pence per therm.
Prices in Britain's over-the-counter power market gained
1.33 pence to 48.25 pounds per megawatt-hour.
($1 = 0.6492 British pounds)
(Reporting by John McGarrity; Editing by Jane Baird and David
UK natural gas prices
National Grid instant flows
National Grid gas demand
North Sea gas and power maintenance
UK: baseload prices, peakload prices,
FRANCE: baseload prices, peakload prices, outages, report
GERMANY: baseload prices, peakload prices, outages, report
CENTRAL EUROPE: report
SWITZERLAND: outages, reservoir levels
EU CARBON PRICES SPEEDGUIDE:
Keywords: MARKETS BRITAIN GAS/POWER
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