UK gas prices calmed Friday ahead of the weekend despite a 25% cut in Langeled flows as supply margins were comfortable, traders said.
The day-ahead contract was changing hands at around 43 pence/therm by 1200 London time, just 0.20 p/th above Thursday's close, while within-day was up 0.30 p/th at 43.05 p/th.
"A combination of holidays and the fact it is nearly the weekend has made things a bit dull today," one trader said.
National Grid showed the system was long Friday, with supplies for the day at 224 million cu m/d and demand pegged at 218 million cu m/d.
This outweighed a 10 million cubic meter a day reduction in Langeled flows, at 30 million cu m/d Friday lunchtime. However, traders were expecting flows to fluctuate slightly ahead of planned maintenance at Karsto on August 18.
Flows of gas through the Swiss Transitgas pipeline to Italy will be unavailable until at least the end of August, easing pressure on exports from
the UK to Continental Europe, with 26 million cu m of gas flowing through the
Interconnector Friday, its website showed.
Flows of UK gas were unchanged on the day at St Fergus Total which was flowing gas at a rate of 20 million cu m/d Friday, but Total's Elgin-Franklin field remained offline due to maintenance which started July 30.
This continued to restrict flows to Bacton SEAL, flowing gas at a rate of 6 million cu m/d Friday lunchtime.
LNG availability was also healthy, with the Isle of Grain and South Hook, output around 35 million cu m/d between them. Dragon LNG was flowing at a rate of 4 million cu m/d early in the session.
There are some LNG tanker deliveries expected to berth next week from Qatar, including the Al Safliya to South Hook on Saturday and the Qatari Lijmiliya next Tuesday, local port data shows. The Murwab is also expected to berth at Dragon LNG on Monday.
The weather forecast remains cool for the weekend, with temperatures expected to hover just below the seasonal norm.
The climate is currently 5 degree Celsius below normal but will improve to 3 C below Saturday and 2 C below Sunday in a range of 12-22 C at best.
On the curve, prices reflected the little change seen on the prompt.Platts assessed gas for Winter 2010 delivery 0.30 p/th higher on the day at 49p/th by midday Friday.
The day-ahead contract was changing hands at around 43 pence/therm by 1200 London time, just 0.20 p/th above Thursday's close, while within-day was up 0.30 p/th at 43.05 p/th.
"A combination of holidays and the fact it is nearly the weekend has made things a bit dull today," one trader said.
National Grid showed the system was long Friday, with supplies for the day at 224 million cu m/d and demand pegged at 218 million cu m/d.
This outweighed a 10 million cubic meter a day reduction in Langeled flows, at 30 million cu m/d Friday lunchtime. However, traders were expecting flows to fluctuate slightly ahead of planned maintenance at Karsto on August 18.
Flows of gas through the Swiss Transitgas pipeline to Italy will be unavailable until at least the end of August, easing pressure on exports from
the UK to Continental Europe, with 26 million cu m of gas flowing through the
Interconnector Friday, its website showed.
Flows of UK gas were unchanged on the day at St Fergus Total which was flowing gas at a rate of 20 million cu m/d Friday, but Total's Elgin-Franklin field remained offline due to maintenance which started July 30.
This continued to restrict flows to Bacton SEAL, flowing gas at a rate of 6 million cu m/d Friday lunchtime.
LNG availability was also healthy, with the Isle of Grain and South Hook, output around 35 million cu m/d between them. Dragon LNG was flowing at a rate of 4 million cu m/d early in the session.
There are some LNG tanker deliveries expected to berth next week from Qatar, including the Al Safliya to South Hook on Saturday and the Qatari Lijmiliya next Tuesday, local port data shows. The Murwab is also expected to berth at Dragon LNG on Monday.
The weather forecast remains cool for the weekend, with temperatures expected to hover just below the seasonal norm.
The climate is currently 5 degree Celsius below normal but will improve to 3 C below Saturday and 2 C below Sunday in a range of 12-22 C at best.
On the curve, prices reflected the little change seen on the prompt.Platts assessed gas for Winter 2010 delivery 0.30 p/th higher on the day at 49p/th by midday Friday.
