MNI China Daily Summary: Thursday, July 4

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CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

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MNI: UK JUNE CONSTRUCTION PMI 52.2 (FCST: 54.0); MAY 54.7

MNI: EUROZONE JUNE CONSTRUCTION PMI 41.8; MAY 42.9

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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EU Gas Maintenance: Further Revision to Norwegian Schedule

NATURAL GAS

Norwegian natural gas flows to Europe have rebounded on Monday with the return of most supplies from the large Troll field and some other facilities. But several extensions to the maintenance calendar have weighed on available supplies for this week.

  • Natural gas supplies from Norway to Europe rose to 257.9mcm/d on Monday, compared with the five-day moving average of 200.76mcm/d. Unavailable supply is expected to rise to 94mcm/d on Tuesday and to 121.36mcm/d on Wednesday.
  • The seasonal maintenance at the Skarv field has been extended by six days until 8 October, limiting supplies by 22.1mcm/d. The duration of the maintenance remains uncertain due to processing problems.
  • The majority of supplies from the 125mcm/d Troll field returned today. Supplies from Kvitebjorn also increased on Monday, while maintenance at the Gina Krog terminal ended.
  • The 9mcm/d Dvalin field will have planned maintenance on 25-28 Sept.
  • The maintenance at the Asgard field is scheduled until 14 October with 13.6mcm/d unavailable with additional unavailability on 27-28 Sept.
  • The Karsto processing facility will have limited supplies of 67.6mcm/d on 27-28 Sept.
  • The ongoing repairs at the Kollsnes processing plant will reduce supplies by 11mcm/d until 16 Oct.
  • The maintenance at the Ormen Lange field will last until 7 Oct, affecting 24.5mcm/d.
  • The Gulfaks and Visund fields will have maintenance on 28-29 Sept.
  • The duration of maintenance at the Sleipner and Oseberg fields remains uncertain.
  • The Dornum terminal will have maintenance on 27-28 Sept limiting 48mcm/d of gas supplies.
  • In France, the Dunkerque LNG terminal will have capped sendout from 25-29 Sept. The Fos Cavaou LNG terminal will have no flows until 2 Oct.
  • In the UK, unavailability at the St. Fergus terminal is as followed during annual maintenance: 30.8mcm/d on 19-20 Oct, 15.8mcm/d on 20 Oct – 1 Nov, 10.8mcm/d on 2 Oct – 9 Nov, 5.3mcm/d on 9 Nov – 1 Dec.
  • The Barrow North terminal will have limited availability until 8 Oct.
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