Prices extended gains

European gas prices extended gains on Friday, mainly supported by the drop in temperatures below normal, a situation now expected to last until at least the middle of this week.

The rise in Brent, JKM and parity prices with coal for power generation (the increase in EUA prices offset the drop in coal prices) provided additional support, particularly for curve prices.

On the pipeline supply side, Norwegian flows rebounded on Friday, averaging 323 mm cm/day, compared to 313 mm cm/day on Thursday. Russian flows were slightly up, at 324 mm cm/day on average, compared to 323 mm cm/day on Thursday.