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NORWAY GAS-Flows to UK, Germany rise
July 2, 2012 / 10:11 AM / 5 years ago

NORWAY GAS-Flows to UK, Germany rise

* Gas exports up to Britain, Germany
    * Flows unaffected by the oil strike

    OSLO, July 2 (Reuters) - Norwegian gas flows to Europe rose
on Monday morning from the weekend, data from the country's gas
system operator showed, as flows from Norway's biggest fields
were unaffected by an offfshore workers' strike, which extended
into a second week. 
    The strike of about 700 offshore workers has shut down five
oil and gas fields on the Norwegian continental shelf, hitting
mostly oil producing installations so far. 
    Traders said that Norway would be able to keep up its gas
supplies to the rest of Europe as long as its biggest fields,
such as Troll, remain unaffected.
    Norwegian gas flows to Europe were at 280 million cubic
metres (mcm) per day at 0630 GMT from daily average of 269 mcm
on Sunday.
    Gas flows to the UK, Europe's biggest traded gas market,
were up slightly to 65 mcm per day on Monday morning from 61 mcm
on Sunday and 55 mcm last Friday.
    The rise comes ahead of a planned maintenance at Norwegian
gas processing plant Kollsnes, which could reduce exports to
Britain later this week, analysts at Point Carbon said.
    "Given that the total Norwegian gas production would be
reduced, and the gas amount from Norway to the continent is
anticipated to remain mostly unaffected, we suspect that flows
via Langeled pipeline to the UK may drop," they said.
    Exports to continental Europe are mostly based on long-term
contracts and are therefore more stable than supplies to
Britain, which are based mainly on spot market deals.  
    The 145 mcm capacity Kollsnes plant is to reduce its output
by 39 mcm per day due to maintenance from July 5 till July 23,
Gassco said. 
    Exports to Germany and the Netherlands were at 147 mcm per
day on Monday morning, up from 137 mcm on Sunday and 140 mcm on
    Flows to Belgium were slightly down to 31 mcm from 33 mcm on
Sunday and 35 mcm on Friday.
    Exports to France were at 37 mcm per day on Monday, close to
Sunday levels but lower than 43 mcm on Friday.
    The last spot price settlements on June 29:
    NBP:        56.8 p/th (24.0 euros per MWh)
    NCG             24.3 euros MWh
    TTF:        24.0 euros/MWh
    Zeebrugge:     24.2 euros/MWh
    Gaspool:         24.2 euros/MWh
    Peg Nord:     24.5 euros/MWh
    Peg Sud:         27.6 euros/MWh
    Point Carbon estimated oil-indexed gas price as of July 1 to
be 87.8 pence per therm (37.1 euros per MWh).

 (Reporting by Nerijus Adomaitis)

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