Strong rise in European prices

European gas prices increased significantly yesterday, supported by the sharp drop in temperatures. The rise in parity prices with coal for power generation (due to the strong rise in EUA prices) provided additional upward pressure.

On the pipeline supply side, Norwegian flows were slightly down yesterday, averaging 346 mm cm/day, compared to 348 mm cm/day on Monday. The same for Russian flows, at 324 mm cm/day on average, compared to 325 mm cm/day on Monday.