Consistent influx of LNG cargoes helps reduce wholesale prices
A consistent influx of LNG cargoes continued to help reduce prices at the NBP on Thursday.
There are currently 10 vessels signalling for UK terminals over the next 2 weeks, 9 of which are laden with cargoes from the US.
In the first 8 days of 2026 we saw 7 arrivals, boosting sendout flows and keeping LNG storage higher than at the same time last year.
A recovery in Norwegian flows added further weight to the near-curve; according to data from operator Gassco, flow nominations into the UK’s Easington and St Fergus import terminals totalled 92.69mcm, representing an increase of 8.2% when compared to the previous gas-day.
Demand however, held firmly above seasonal norms due to cold weather and heavy CCGT offtake.
UK baseload power prices also saw bearish price action, despite a sharp decline in renewable power generation.
The move was mostly influenced by a downward swing across the NBP curve, with other, adjacent markets such as crude oil and carbon posting varying degrees of upside.
The Brent Crude benchmark contract climbed 3.4% in yesterday’s session amid a perceived heightening of geopolitical instability since the US operation in Venezuela and altercations between the US, Russia and China following the recent sanctions crack down.
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Price commentary courtesy of Crown Gas and Power 