Tuesday, 24 January 2012

UK prompt gas drops on milder weather, good supply

UK prompt gas prices dropped on Tuesday as healthy supply and moderate demand created a balanced supply chain and prices further out on the curve were pushed up on a tightening outlook for liquefied natural gas (LNG) shipments to Britain.

At 308.6 million cubic metres (mcm), UK gas demand was around 26.5 mcm below the seasonal norm on Tuesday, according to National Grid data.

At the same time, expected flows of over 311 mcm mean that the system would be 2.5 mcm oversupplied.


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