Prices edge higher as Norwegian maintenance schedule reaches peak
NBP gas prices edged higher on Thursday as Europe cautiously approaches the peak of Norwegian maintenance scheduled for next week.
Gassco data indicates that 171.65mcm will be offline on Thursday 11th September, remaining above 100mcm until at least Friday 19th.
Planned works at the Aasta Hansteen field, which feeds supplies to the UK via Langeled were dismissed, restoring 14.9mcm of capacity on gas-day 9th September.
On the storage front, continental facilities will reach 80% early-mid next week, leaving ample room to meet the October–December target of 83%.
Meanwhile, an additional LNG vessel is now signalling for the UK, the Qatari ‘Bu Samra’ is currently expected to arrive on 4th October, based on the latest shipping data.
Similarly small gains posted across power contracts, supported by firm gas prices and bullish carbon futures.
Data from system operator NESO shows that renewables served as the largest source of power generation in August, with wind, solar and hydro comprising 37.4% of the power mix over the course of the month, gas fell modestly to 23.2%.
In other news, the Paluel nuclear plant in France has been shutdown due to a jellyfish infestation obstructing the facilities cooling system.
The Gravelines facility, also along the French north coast was taken offline on 11th August for the very same reason, causing reduced output for a few days.
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Price commentary courtesy of Crown Gas and Power 