Prices for EUROPE GAS rise due to higher demand and lower LNG exports
Dutch and British wholesale gas rates rose slightly Monday morning due to higher demand and lower LNG terminal send-out.
LSEG data shows that the benchmark Dutch front-month contract for the TTF hub increased by 0.27 euros, to 32.35 Euro per megawatt hour at 0827 GMT.
The contract for November was up by 0.28 euros at 33.18 euro/MWh.
The British contract for delivery in October rose by 1,01 pence, to 79.51 cents per therm.
The demand for gas in North-West Europe is expected to increase slightly as a result of lower temperatures and a weaker wind. The UK is also expected to see a rise in gas demand as the wind speed will be lower than normal for the rest of the week.
LSEG data shows that the LNG export is expected to fall by 237 gigawatt-hours per day (GWh/d), to 2,117 GWh/d. A further 56 GWh/d will be lost tomorrow.
The BBL pipeline connecting Britain with Belgium is currently undergoing maintenance. UK imports into Europe are approximately 80 GWh/d less than they were on Friday.
Russian attacks against Ukrainian energy infrastructure continues. Ukraine's Energy Ministry said that Russian forces attacked an energy facility in Kyiv on Monday.
Analysts at Engie EnergyScan said that the market is more concerned with risks in the short-term, fueled by the ongoing Russian attacks against Ukrainian energy infrastructure.
Donald Trump, U.S. president, said Sunday that he was ready to move into a second phase in sanctioning Russia. This is the closest he's come to suggesting that he may be about to increase sanctions against Moscow and its oil purchasers over the war with Ukraine.
Antonio Costa, President of the EU Council, said that the United States and Europe are closely coordinating their preparations for the 19th package against Russia.
The benchmark contract on the European carbon markets was down 0.39 euros at 75.65 euro per metric ton. Nina Chestney reports.
(source: Reuters)
