Unplanned maintenance increases wholesale prices
NBP gas prices resumed their upward trajectory on Tuesday, as unplanned maintenance heightened supply-side risk.
According to operator Gassco, offline capacity had reached 75.77mcm as of Tuesday morning with process problems at the Dvalin field removing a further 7.6mcm/d of output on top of planned works.
The UK’s Alwyn field is also offline until at least 21st May, curbing domestic production over this period (National Gas). The publishing of widely anticipated EU plans to phase out all Russian energy by the end of 2027 also served to guide European gas hubs higher on Tuesday.
In other news, the EU has now outlined a new roadmap to cut energy ties with Russia, aiming to end all Russian gas imports by 2027. This includes banning new contracts and halting spot market purchases by the end of 2025.
Measures will also be introduced to disrupt Russia’s shadow fleet used to bypass oil sanctions. In the nuclear sector, the EU will restrict new supply deals involving Russian-origin uranium and related materials.
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Price commentary courtesy of Crown Gas and Power 