The system opened 21mcm short at the open due to an unexpected outage at the Kollsnes processing facility which is expected to only last one day; this has removed 30mcm output from this facility.
The outage has nearly halved Langeled imports to Easington, nominated at 25mcm, in contrast it was 51mcm yesterday.
IUK exports remain high nominated at 56.4mcm, but note there is an outage scheduled tomorrow between 7am-2pm with only 37mcm of capacity available.
UKCS production is lower by 5mcm day-on day as flows into Bacton have slightly decreased whist LNG output from South Hook has increased and MRS injections are 5mcm higher. To flow 49mcm into Easington, combined with strong LNG send-out from South Hook.
Wind generation and temperatures remain the same from yesterday as we are set to have strong wind generation during the weekend weighing on its respective contracts, and low wind generation in the weekdays.
Solar generation is forecasted to increase over the next three days, however similar to wind it is set to decrease into the weekend.
The DA fell downwards as taking direction the weak NBP Prompt and Front-month which has widened the Aug/Sep17 even further.
Norwegian flows to Dornum are higher day-on day whilst Emden and Dunkirk are marginally lower.
The TTF penned slightly higher vs the NBP due to a marginal fall in production however this has been mitigated as storage injections has slightly reduced.
Contracts further along the curve took notice of the near 2.5% increase overnight on Brent crude due to a forecasted reduction of Oil and Gasoline inventories, whilst buying has been supported by a weakened US Dollar.
Similar to yesterday Russian flows via Velke are lower due to the scheduled maintenance from 11th-16th July.
Algerian imports to Italy have increased day-on day, whilst LNG send-out in Montoir is still high in anticipation for 5 cargoes before the end of the month; this combined with the return of the Fos terminal in the Sud has all-but eroded the Nord/Sud premium.
The influx of LNG expected in the North before the end of the month is pushing the Day-ahead contract lower, with it nearly breaching the 2017 low yesterday.
Immediate wind and Solar generation is positive, however wind generation is set to fall Friday however it is going to ramp-up throughout the weekend.
Similar to yesterday the Aug-17 contract remains under pressure driven by weak gas prices and API2 Coal, and the Prompt moved downwards faster than its TTF counterpart as bearish Coal acted as the driver.
Curve contracts showed marginal losses driven by API2 losses and downward pressure on EU ETS Contracts.