Prices increased again yesterday in most European gas markets, still supported by strong demand due to freezing temperatures and relatively weak supply. In Asia, JKM spot prices rose to €79.255/MWh yesterday, +32.17% day-on-day, strongly helped by exceptional spot baseload power prices: €1220/MWh yesterday on the Japan Electric Power Exchange (compared to €1184/MWh on Friday). As a consequence, Asia continues to attract LNG cargoes originally destined to Europe.
On the pipeline supply side in Europe, Russian flows dropped slightly yesterday, at 321 mm cm/day on average, compared to 323 mm cm/day on Friday. Norwegian flows were stable at 334 mm cm/day on average. Algerian flows were up, which exerted a downward pressure on Spain PVB spot prices.
Get more analysis and data with our Premium subscription
Ask for a free trial here
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
We will get back in touch with you soon.
Don’t forget to follow us on twitter!