Prices down in most European markets

Prices were lower yesterday in most European gas markets, as above-normal temperatures and the easing of the tension in Asian markets exerted downward pressure. Indeed, JKM spot prices weakened again yesterday, to €36.474/MWh, -12.26% day-on-day. On the Japan Electric Power Exchange, system spot power prices for delivery today eased to €231/MWh, down from €500/MWh for delivery on Thursday.

On the pipeline supply side, Russian flows were stable yesterday, at 318 mm cm/day on average, still significantly below the 371 mm cm/day on average of December 2020. By contrast, Norwegian flows were lower, averaging 334 mm cm/day, compared to 339 mm cm/day on Wednesday, on the back of maintenance at the Asgard gas field.

Elsewhere, note that, in a resolution approved yesterday, the European Parliament has again called for the Nord Stream 2 gas pipeline project to be halted, this time in light of the arrest in Moscow of Russian opposition politician Alexei Navalny.

Share this news :

You might also read :

June 14, 2021

Prices down on rebound in Norwegian flows

European spot gas prices dropped on Friday, mainly pressured by the increase in Norwegian supply. Indeed, following the (delayed) start-up of Troll, Norwegian flows rebounded…
February 3, 2021

Mixed price evolution

European gas prices were mixed yesterday, torn between the bearish impact of lower residential gas demand and weaker Asian prices and the bullish impact of…
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?