UK gas prices remained high Tuesday morning — about 30% higher than where they began the month — with a freezing spring drawing hard on gas supplies but an LNG delivery provided some relief, one gas broker said.
The day-ahead contract was valued at 99.00 pence/therm at 1200 GMT, down by 5.00 p/th from Monday’s close while the within-day contract was unchanged at 98.00 p/th.
“I think people are a bit more comfortable with LNG en route,” the broker said.
The UK received the Q-Max Zarga LNG vessel from Qatar on Monday and the Q-Flex Tembek tanker is scheduled to arrive on Friday, Milford Haven port data showed.
Shipping data also indicated another delivery is expected from Trinidad.
The vessel is a BG carrier heading for Milford Haven port and is expected to arrive Sunday or Monday, Platts unit Bentek Energy said.
Demand remained well above norms Tuesday — by 102 million cubic meters with National Grid forecasting demand at 373 million cu m — but the system was well supplied.
UK GAS Prices: Prices remain high on cold, LNG provides some relief - Natural Gas