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NORWAY GAS-flows to Europe down on maintenance
September 17, 2012 / 9:33 AM / 5 years ago

NORWAY GAS-flows to Europe down on maintenance

* Flows to Europe down 13.8 mcm since Friday

* Maintenance stops exports to France

* But flows to Britain rise

LONDON, Sept 17 (Reuters) - Norwegian gas exports to Europe dropped between Friday and Monday morning, although flows to Britain rose at the cost of the reductions to continental Europe where exports to France fell to zero.

Norwegian gas exports to Europe fell sharply last week as the country’s biggest gas field, Troll, and its Kollsnes gas processing plant were shut for maintenance, and further maintenance is underway at the beginning of this week.

Total gas exports to Europe including Britain fell by 13.8 million cubic metres per day (mcm) by 0840 GMT to 170.7 mcm on Monday morning, data from Norway’s gas system operator Gassco showed.

Norway is the second-biggest pipeline gas supplier to Europe after Russia.

Despite the fall, gas supplies to Britain, Europe’s most traded gas market, were up 6.3 mcm to 31.5 mc per day.

The overall Norwegian export drops came at the cost of reductions to Germany and the Netherlands, where exports to Dornum and the two Emden terminals were down a total of 10.9 mcm since Friday to 104.7 mcm per day on Monday morning.

Exports to France ceased completely, down from 6.6 mcm on Friday, as a result of maintenance at a receiving terminal in Dunkerque, while supplies to Belgium’s Zeebrugge remained relatively stable at 20.8 mcm.

Here are the last spot price settlements on September 14:

NBP: 62.1 p/th (26.2 euros/MWh)

TTF: 26.2 euros/MWh

NCG: 26.0 euros MWh

Gaspool: 25.8 euros/MWh

Zeebrugge: 26.2 euros/MWh

Peg Nord: 26.4 euros/MWh

Peg Sud: 30.2 euros/MWh

Thomson Reuters Point Carbon estimated oil-indexed gas price as of September 1 to be 86.1 pence per therm (37.09 euros per MWh). (Reporting by Henning Gloystein; Editing by Alison Birrane)

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