European prices down on ongoing strong LNG supply and rebound in Norwegian flows
European gas prices weakened yesterday, pressured by the additional drop in Asia JKM prices (-4.54% on the spot, to €64.323/MWh; -7.96% for the March 2022…
European gas prices increased significantly yesterday, supported by the sharp drop in temperatures. The rise in parity prices with coal for power generation (due to the strong rise in EUA prices) provided additional upward pressure.
On the pipeline supply side, Norwegian flows were slightly down yesterday, averaging 346 mm cm/day, compared to 348 mm cm/day on Monday. The same for Russian flows, at 324 mm cm/day on average, compared to 325 mm cm/day on Monday.
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