Thursday, 2 September 2010

UK gas prices flat on stable supply, awaits export outage

British gas prices were flat in early Thursday trading, after steep rises
and falls over the previous two sessions, with stable supply and demand
balancing the market.

Gas for delivery on Friday was unchanged at 43.05 pence per therm at 1008
GMT compared with previous day-ahead prices, while October firmed by 0.15
pence at 42.20 pence ($6.50 per mmbtu). "We're marginally higher, but
everything's calm," one energy
broker said.

National Grid data showed an upturn in Langeled flows to 18 million cubic
metres (mcm) from around 6 mcm overnight helped
balance the system, in addition to high supply of 49 mcm from South Hook
liquefied natural gas (LNG) terminal.

The Dragon LNG website showed it had four available slots for tankers at its
terminal until Sept. 16, while the Isle of
Grain website showed it had two until Sept. 8.

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