Daily Energy Market Report Monday 5th Nov 18. The NBP has opened 3mcm long with demand ~15mcm above its respective seasonal norm.
No cold weather is being forecasted to arrive at the NBP and NW Europe; this has added weight to the Prompt and pulled down the near curve.
Low wind levels have increased CCGT demand to 67.5mcm but this is forecasted to reduce as we move into the week.
Langeled imports are strong at 72mcm and LNG send – out remains strong at 32mcm, which is enabling MRS sites to inject rather that withdraw from inventories.
BBL flows are importing 6mcm today and there remains no flows in either direction via the IUK, as there is no incentive with the respective basis spreads.
There is a planned outage at Visund fields on the NCS removing 11.5mcm of capacity and this is expected to end Wednesday.