European prices weakened again

European gas prices weakened again yesterday as profit taking continued to exert downward pressure. The drop in parity prices with coal for power generation (both EUA and coal prices were down) provided additional downward pressure, particularly for curve prices.

On the pipeline supply side, due to maintenance works at the Aasta Hansteen gas field, Norwegian flows dropped yesterday to 325 mm cm/day on average, compared to 340 mm cm/day on Monday. Russian flows were stable, averaging 326 mm cm/day.