EUROPE GAS-Prices edge higher as Norwegian maintenance curbs supply
LONDON, Aug 29 (Reuters) - Dutch and British wholesale gas prices edged higher on Thursday morning as annual maintenance at several Norwegian gas infrastructure sites curbed supply.
The benchmark front-month contract at the Dutch TTF hub was up 0.62 euros at 39 euros per megawatt hour (MWh), or $12.67/mmBtu, by 0812 GMT, LSEG data shows.
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The October contract was up 0.07 euros at 39.20 euros/MWh.
In the British market, the day-ahead contract was up 0.4 pence at 92.50 pence per therm.
“Norwegian output is lower today compared to yesterday as planned maintenance begins to take hold, expected to continue throughout much of September ahead of the winter delivery period,” consultancy Auxilione said in a daily market report.
Norway's Kollsnes gas processing plant has an ongoing capacity reduction of 18 million cubic metres/day (mcm/d) until Sept. 2, followed by a 61 mcm/d reduction for two days until Sept. 4, LSEG data showed.
“Flows via Norway have dropped 24 mcm/d as the deluge of long-anticipated planned maintenances is upon us,” LSEG analyst Tim Crump said in a daily report. “Terminal outages are expected to rise to 125 mcm/d tomorrow.”
Supply of gas to Europe from Russia via Ukraine remained steady.
Russia's Gazprom said it would send 42.4 million cubic metres (mcm) of gas to Europe via Ukraine on Thursday, unchanged from Wednesday.
In the European carbon market, the benchmark contract was little changed, down 1 euro cent at 70.76 euros per metric ton.
(Reporting by Susanna TwidaleEditing by David Goodman)