Daily Energy Market Report Thursday 24th May 2018
A short system and Norwegian outages have lifted the NBP this morning.
Langeled is not flowing because of maintenance at the Kollsnes processing plant where there is 144.5mcm reduction in capacity.
There is 36.3mcm of capacity offline at St. Fergus with this outage due to end on the 26th.
Easington is also undergoing yearly maintenance, which is expected to end on the 25th; this is taking 71.2mcm of capacity offline.
There is also the unplanned maintenance ongoing at Kristin with a reduction of 8mcm; this is expected to last until the 29th.
A ramp up in storage withdrawals is making up for the reduction in flows from Norway and keeping the system around 3mcm short.
IUK exports have also moved down slightly day on day with current nominations at 21.2mcm.
Brent crude has held its value overnight despite gains in inventories.