EnergyScan

European prices up on the spot, down on the curve

European spot gas prices increased yesterday, mainly supported by strong heating demand due to below-normal temperatures and production issues in the UK. Moreover, due to an unplanned outage at the Asgard gas field, Norwegian flows weakened to 302 mm cm/day yesterday, compared to 309 mm cm/day on Monday. Russian flows increased to 331 mm cm/day on average, compared to 327 mm cm/day on Monday. The continuous rise in Asia JKM prices provided additional support, particularly to Spain PVB prices.

By contrast, curve prices were down, as the drop in parity prices with coal for power generation (both EUA and coal prices were down) exerted downward pressure.

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