U.K. Natural Gas Falls as Norwegian, Dutch Imports Rise

U.K. natural gas for same-day delivery fell as Norwegian flows increased to a nine-month high and imports from the Netherlands rose, leaving the delivery network with excess fuel.

The within-day contract slid as much as 0.9 percent, broker data compiled by Bloomberg show. Norwegian flows were at a rate of 132 million cubic meters a day, the most since Bloomberg started compiling the Gassco AS data in January. Dutch imports through BBL Co.’s pipeline rose to a rate of 39 million cubic meters a day, the most since April 14, according to National Grid Plc (NG/) data.

Gas for today dropped 0.7 percent, or 0.5 pence, to 68.4 pence a therm at 4:04 p.m. London time. Month-ahead gas was little changed at 69.4 pence a therm. That’s equivalent to $11.18 per million British thermal units and compares with $3.56 per million Btu of front-month U.S. gas.

The gas-transport system will contain 350 million cubic meters at 6 a.m. tomorrow, up from 346 million at the start of today, grid data show.

Day-ahead gas rose 0.5 percent to 68.95 pence a therm on predictions for freezing weather tomorrow that may boost demand for the heating fuel.

Low temperatures in London will be minus 1 degree Celsius (30 Fahrenheit) tomorrow and minus 3 degrees on Dec. 6, compared with a 10-year average of 5 degrees, according to CustomWeather Inc. data on Bloomberg. Demand in the 24 hours to 6 a.m. tomorrow will probably be 328 million cubic meters versus a seasonal norm of 285 million, grid data show.

Flows through the Theddlethorpe receiving terminal on the east coast of England remained at zero since an unplanned outage at 9 a.m. on Dec. 1, grid data show.

Gas accounted for 32 percent of U.K. power production at 4 p.m., grid data show. Coal generated 44 percent, nuclear 16 percent and wind 3.1 percent.

Electricity for tomorrow jumped 5.6 percent to 51.75 pounds a megawatt-hour, broker data show.

To contact the reporter on this story: Matthew Brown in London at mbrown42@bloomberg.net

To contact the editor responsible for this story: Lars Paulsson at lpaulsson@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.