EnergyScan

European prices weakened

European gas prices weakened yesterday, both on the spot and the curve, pressured by the expected rise in temperatures above normal next week. The drop in parity prices with coal for power generation (thanks to lower EUA prices) provided additional downward pressure, particularly on curve prices.

On the pipeline supply side, thanks to the rise in Yamal flows, Russian supply was up yesterday, at 308 mm cm/day on average, compared to 300 mm cm/day on Monday, but still below the pre-outage level of 324 mm cm/day. As for Norwegian flows, due to planned maintenance works, they weakened again, averaging 303 mm cm/day, compared to 310 mm cm/day on Monday.

 
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