European prices extended losses

  • Gas

European gas prices continued to weaken overall on Friday, still pressured by the expected rise in temperatures this week. The drop in Asia JKM prices and parity prices with coal for power generation (thanks to lower EUA prices) provided additional downward pressure, particularly for curve prices.

On the pipeline supply side, Norwegian flows were slightly up on Friday, to 315 mm cm/day on average, compared to 314 mm cm/day on Thursday. Russian flows were slightly down, averaging 325 mm cm/day, compared to 327 mm cm/day on Thursday. As a reflection of a now comfortable LNG supply in Europe, LNG sendouts continued to increase.

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