EnergyScan

European prices weakened temporarily

European gas prices increased again yesterday, both on the spot and the curve. Prices continued to receive support from above-normal demand and weak pipeline supply, which tighten the gas systems and maintain net storage injections at relatively low levels. The rise in Asia JKM prices and in parity prices with coal for power generation (both EUA and coal prices were up) provided additional support.

On the pipeline supply side, Norwegian flows weakened to 280 mm cm/day yesterday, compared to 282 mm cm/day on Wednesday. Russian flows remained stable at 331 mm cm/day on average.

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