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NATGAS
NORWAY GAS - Norwegian pipeline supplies to Europe are up slightly today to 195.4mcm/d from a low of 188/1mcm/d on Sept. 2, according to Bloomberg. Gassco shows capacity reductions of 165mcm/d today but rising back to a peak of 237mcm/d on Friday after the start of works at Nyhamna and Kollsnes were delayed further until Sep 6.
- Reduced capacity at Nyhamna and Kollsnes is due to end on Monday although the exact impact and duration remains uncertain. The outage is due to corrective maintenance at Draupner and reducing the platform’s usual flexibility causing gas routing restrictions at the Sleipner Riser.
- Other updates include a decline by 9.4mcm/d at Gullfaks due to a downstream restriction until Sept. 20 while Gassco also reported a drop of 6.4mcm/d in supplies through SEGAL fields.
- Other assets or units currently showing capacity restrictions are Asgard, Skarv, Sleipner, Karsto, Gullfaks, Kirstin, Heidrun, Johan Sverdrup and Njord and Troll. See table below for details and timings.
- TTF prices are falling despite the current maintenance season with the market coping with the peak outages this week with an increase in LNG sendout. Norwegian pipeline supplies to Europe are also holding well above levels seen during maintenance last September when supply fell as low as 122.6mcm/d.
- TTF OCT 24 down 1.9% at 36.47€/MWh
Source: Gassco
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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