Daily Energy Market Report Tuesday 4th Dec 18. Gas prices climbed on Monday, with increased demand a slightly under supplied system and reduced flows from Norway due to unplanned maintenance in Troll field and Kollsnes.
The UK has opened slightly long this morning with increased flows through Langeled with Norwegian flows back up to 74mcm.
The UK has experienced a colder start to the day, with temperatures set to fall below seasonal normal tomorrow.
Total UK demand has lifted above 300mcm to 307mcm today as the cold weather pattern moves in.
Total demand for the day is 36mcm above seasonal norm.
Langeled flows have increased to 74mcm, up 26mcm day on day, similar to LNG with flows up 10mcm day on day.
Total LNG supply into the UK system remains high flowing at 86.4mcm today.
Gas burn for power is at 76.2mcm and is expected to remain high with poor wind and renewable generation expected through December.
Oil continued to extend gains on Tuesday ahead of OPEC meeting on Thursday, with rumours emerging that OPEC and its allies are looking towards sealing a deal, which will cut 1.3million barrels a day from the market.
Daily Energy Market Report Tuesday 4th Dec 18 brought to you by British Utilities