Mixed European gas prices

With unchanged fundamentals, European gas prices were mixed on Friday.

On the pipeline supply side, Norwegian flows were up on Friday, averaging 318 mm cm/day, compared to 309 mm cm/day on Thursday, but still below the 324 mm cm/day of the previous week. Russian flows increased more slightly, at 281 mm cm/day on average, compared to 277 mm cm/day on Thursday, still significantly below the 319 mm cm/day on average of January 2021.

The additional drop in Asia JKM prices and the slight drop in parity prices with coal for power generation (due to lower EUA prices) provided a slight downward pressure, particularly for curve prices.

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