Lower prices in Europe and in Asia

Spot and near curve prices were down on Friday in most European gas markets as interests switched to the March contract, a period during which the European supply/demand balance is expected to be much more comfortable thanks to lower seasonal demand and the (expected) increase in LNG supply. The drop in EUA prices provided additional downward pressure as it reduced parity prices with coal for power generation.

Moreover, in Asia, system baseload spot power prices on the Japan Electric Power Exchange for delivery today dropped to €52/MWh, compared to €64/MWh for delivery on Friday, far below the record levels of early January. JKM spot prices were almost stable on Friday, at €26.849/MWh yesterday, +0.39% day-on-day, but -23.41% week-on-week.

On the pipeline supply side, Russian flows remained stable on Friday, at 318 mm cm/day on average, still significantly below the 371 mm cm/day on average of December 2020. Norwegian flows were up, averaging 343 mm cm/day, compared to 339 mm cm/day on Thursday.

Share this news :
Share on twitter
Share on linkedin
Share on email

You might also read :

March 30, 2022

Prices up on colder weather

European gas prices were up yesterday, supported by forecasts of colder weather. However, spot fundamentals remain comfortable overall as storages show (European gas storages are…
July 13, 2021

Inflation day

The dollar remained range-bound yesterday, as bond prices remained stable. Equities globally resumed their slow growth, lifted by tech stocks and the banking sector. The…
November 15, 2021

SPR release in the void ?

Crude prices remained pressured, sticking to the 80-82 $/b range, as the possibility of a US SPR release limited prompt tightness. With such growing political…
Join EnergyScan

Get more analysis and data with our Premium subscription

Ask for a free trial here

Subscribe to our newsletter
Thank you for subscribing to our newsletter​

We will get back in touch with you soon.

Don’t forget to follow us on twitter!

EnergyScan - Newsletter subscription

Don’t have an account yet?  Sign up here!