Prices extended gains

Prices increased again significantly yesterday in most European gas markets, still supported by strong residential demand and relatively weak supply amid very bullish Asian power and gas markets. JKM spot prices rose to €90.824/MWh yesterday, +14.60% day-on-day, on the back of ongoing exceptional spot baseload power prices on the Japan Electric Power Exchange.

On the pipeline supply side in Europe, Russian and Norwegian flows were stable yesterday, respectively at 321 mm cm/day and 334 mm cm/day on average.