LONDON, June 28 (Reuters) - British gas prices rose on
Friday after a series of unplanned outages in Norway reduced
Norwegian exports to Britain.
Gas for within-day delivery traded 0.70 pence
higher on the previous session at 63.40 pence per therm.
'There was an unplanned outage at Nyhamna late last night.
It is expected to return at the weekend. The UK gas system is
short this morning as a result,' said analysts at Inenco energy
Early on Friday, gas system operator Gassco and Statoil said
the output from Norway would be sharply reduced due to
Royal Dutch Shell's Nyhamna gas plant, which
processes gas from the giant Ormen Lange gas field, will be down
for 36 hours, reducing output by 27 million cubic metres (mcm)
per day, while Statoil's own output will be down by 14.7 mcm per
day for an unknown duration.
Britain's gas system was slightly undersupplied with flows
forecast to be 202.8 million cubic metres per day (mcm/d),
according to National Grid data.
Friday's gas demand was pegged just 0.05 percent higher than
the seasonal norm at 205.6 mcm.
Analysts at Thomson Reuters Point Carbon warned there was a
risk of continued low flows from the Norway-Britain Langeled gas
pipeline if the outages were prolonged.
'We may see continued storage withdrawal, particularly from
(E.ON's gas storage facility) Holford, to balance the system,'
Benchmark front-season gas also traded higher,
adding 0.20 pence at 72.25 pence per therm.
British spot electricity prices defied the gas market and
traded lower on Friday.
Day-ahead baseload power fell 2.25 pounds to 46.88 pounds
(Reporting by Nina Chestney; Editing by Jeff Coelho)
UK natural gas prices 0#TRGBNBP:
National Grid instant flows 0#NGRID-FLOW-RT
National Grid gas demand 0#NGRID-DSR-DEM
North Sea gas and power maintenance NSEA/AM
UK: baseload prices 0#TRGBB:, peakload prices 0#TRGBP:, outages POWER/GB
FRANCE: baseload prices 0#TRFRB:, peakload prices 0#TRFRP:, outages POWER/FR, report EL/DE GERMANY: baseload prices 0#TRDEB:, peakload prices 0#TRDEP:, outages POWER/DE, report EL/DE CENTRAL EUROPE: report EL/CEE
SWITZERLAND: outages POWER/CH, reservoir levels RES/CH NORDIC: report EL/NOR
EU CARBON PRICES SPEEDGUIDE: EMISSIONSKeywords: MARKETS BRITAIN GAS/POWER
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