European gas prices extended gains yesterday, supported by the downward revision of temperatures. On the pipeline supply side, Norwegian flows were up yesterday, averaging 329 mm cm/day, compared to 315 mm cm/day on Tuesday. But Russian flows were lower, at 320 mm cm/day on average, compared to 327 mm cm/day on Tuesday.
The rise in parity prices with coal for power generation (both EUA and coal prices were up) provided additional upward pressure, particularly for curve prices.
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