Daily Energy Market Report Wednesday 29th May 19

Daily Energy Market Report Wednesday 29th May 19

The Prompt to Near-curve has opened weak gaining weight this morning driven by an oversupplied system despite LDZ consumption remains strong at 34mcm above the seasonal normal.

Norwegian imports to Europe are low due to 45.5mcm of planned maintenance at the Kollsnes processing facility and the Troll field, respectively, combined with a small unplanned outage at the Gullfaks field and exports via the IUK nominations to Zeebrugge remain flat at 41mcm.

Combined nominations of LNG send-out from the Gain and South Hook terminals is currently 31% of total supply.

The Isle of Grain LNG facility is expected to receive the vessel Berge Arzew originating from Algeria on the 2nd June, alas South Hook isn’t expected to have another cargo unload until the 5th June, but ample supply is set to deliver into neighbouring European facilities; Gate in the Netherlands is expected to receive 3 cargoes in the first week of June alongside other deliveries.

Daily Energy Market Report Wednesday 29th May 19 brought to you by British Utilities

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