Seasonal demand has resulted in price gains at European hubs, but further increases will be limited.
The NBP month-ahead was around 53-55 p/th by mid-January compared with roughly 45 p/th in mid-December. Rises in the TTF and NCG month-ahead prices were more modest, with prices averaging around 51-52 p/th by mid-January. A cold start to the year supported price gains as weather-related demand increased in major markets across the region. However, although strong offtake from the power sector will continue in some markets, including the UK, weather forecasts suggest average temperatures are likely across much of Europe in February. This will limit growth in the region’s overall gas demand during the latter part of Q2 and the potential for further seasonal price gains.
Log in or register for a free trial to continue reading this article
Not a subscriber?
To access our premium content, you or your organisation must have a paid subscription. Sign up for free trial access to demo this service. Alternatively, please call +44 (0)20 3004 6203 and one of our representatives would be happy to walk you through the service.Sign up