Daily Energy Market Report 9th Oct 18
Contracts along the forward curve continue to be pushed down this morning as supply to the NBP and NW Europe remains strong and contracts further along the curve are taking direction from fuels and a strengthening GBP.
The NTS has opened close to balance this morning at 0.9mcm long, Langeled imports have decreased by 10mcm this morning vs yesterday’s nomination at 40mcm, despite this decrease, nominations are set to remain strong following the end of the summer maintenance periods on the NCS.
Wind production is forecasted to be healthy this week, which will ease CCGT demand, this combined with warm temperatures scheduled for this week is applying further pressure to the Prompt.
Good volumes of LNG is set to berth into Europe as Asian hubs are well – stocked and many Atlantic basin producers are keen to keep the cargos within its respective hubs to cut – down on transportation charges.
Daily Energy Market Report 9th Oct 18 brought to you by British Utilities