Daily Energy Market Report Friday 30th Nov 18. The NBP has opened lower this morning off the back of the continued healthy supply picture.
Strong LNG send out is the main source of supply to the UK currently with nominations at 77mcm today.
There is the possibility of nine vessels heading to the UK in the next 2 weeks and hence the high send out.
Overall, the system is around 12.4mcm long with both Langeled and the UKCS at reduced flows because of maintenance.
The one to note is the unplanned event at Elgin Franklin, which is taking 11.4mcm of capacity offline and is expected to last until the third.
Demand is forecasted at 244.7mcm today, 20.3mcm below seasonal normal with LDZ at 188.7mcm.
Gas for power demand remains low at 38mcm because of strong wind generation.
On weather, no significant changes overnight, with more recent models looking a touch cooler.
Brent sits steady at $59.30/bbl. at time of writing with balance between the possibility of OPEC and Russia agreeing a production cut and rising global inventories.
Daily Energy Market Report Friday 30th Nov 18 brought to you by British Utilities