Prices dropped again, in Europe and in Asia

European gas prices dropped again yesterday, still pressured by expectations of higher temperatures and stronger LNG supply to Europe in the coming days. The drop in parity prices with coal for power generation (thanks to the drop in EUA prices) provided additional downward pressure, particularly for far curve prices.

In Asia, JKM spot prices eased again, falling to €19.549/MWh yesterday, -2.21% day-on-day.

On the pipeline supply side, Norwegian flows returned to normal, averaging 340 mm cm/day, compared to 332 mm cm/day on Wednesday, as the unplanned outage at the Aasta Hansteen gas field seems to have been totally resolved. Russian flows remained stable at relatively weak levels, at 302 mm cm/day on average, compared to 301 mm cm/day on Wednesday.

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February 18, 2021

Prices weakened in most European markets

Prices weakened yesterday in most European gas markets, still pressured by above-normal temperatures whose impact exceeded that of supply volatility. Moreover, the drop in EUA…
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