Iran Energy News Oil, Gas, Petrochemical and Energy Field Specialized Channel
Related Articles
Natural gas prices in Europe extended gains as Norwegian flows plunged further amid planned works, while Russian shipments remained low.
Benchmark futures gained as much as 5.2%, advancing for a third day. Supplies from Norway are set to slump to the lowest levels in more than three months with seasonal work at the giant Troll field on Friday, according to nominations from operator Gassco AS. There are also unplanned outages at the Kollsnes processing plant.
This week’s rally in gas prices comes after a period of relative calm in the market, as high levels of liquefied natural gas imports into Europe and the end of winter heating demand countered supply risks arising from Russia’s rubles-for-gas order. There’s some pushback from European nations on the new payment terms, but disruptions aren’t seen as imminent with most bills due only later next month.
Meanwhile, orders for Russian gas transiting Ukraine inched higher in the past two days, but are still far below the levels seen before Easter.
Front-month gas futures were 3.7% higher at 103.72 euros per megawatt-hour at 8:25 a.m. in Amsterdam, after rising 6.2% on Thursday.
