Daily Energy Market Report Monday 19th August 19
The NBP has opened 23mcm oversupplied with demand 26mcm above the respective seasonal norms.
Langeled receipts into Easington are 6mcm high vs Friday’s nomination at 40mcm however entry to St. Fergus is lower due to planned field maintenance.
UKCS production is strong this morning as Teesside has increased output and the MRS site Hilltop is nominating to withdrawal 7mcm of inventories – the last time Hilltop farm nominated to withdraw was the 8th August and before that the 27th February 2019.
There are two possible LNG cargos delivering to the UK before the 30th August however, this is based from algorithmic data therefore we will have to wait until this actually manifests.
This week sees the uptick in planned outages on the NCS with more fields, processing plants and entry points having their capacity reduced.
The two notable events being at the Kollsnes processing facility and the behemoth Troll field removing 146.5mcm and 120mcm of the respective capacity – both of these are scheduled to start on the 24th August and works set to be completed on 5th September.
Daily Energy Market Report Monday 19th August 19 brought to you by British Utilities