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U.K. Natural Gas Jumps as Gassco Extends Troll A Maintenance

U.K. natural gas for next-month delivery rose as Gassco AS extended unplanned maintenance at its Troll A field by almost two months.

Within-day gas also rose and the day-ahead contract erased a decline, according to broker data compiled by Bloomberg. The outage at Troll A will reduce production by 35 million cubic meters a day until April 1, Gassco said on its website, pushing the start back from Feb. 4.

Gas for February gained 2 percent to 66.9 pence a therm at 4:13 p.m. London time. That’s equivalent to $10.57 per million British thermal units and compares with $3.45 per million Btu of front-month U.S. gas.

The high temperature in London will be 6 degrees Celsius (43 Fahrenheit) tomorrow and 12 degrees on Jan. 29, up from minus 1 yesterday, CustomWeather Inc. data on Bloomberg show.

Demand in the 24 hours to 6 a.m. tomorrow will be 368 million cubic meters, the least since Jan. 20, National Grid Plc data show.

Flows from Norway, the U.K.’s biggest source of imported gas, were at a rate of 106 million cubic meters a day versus a 10-day average of 113 million, Gassco AS data show.

Pipeline imports from Belgium were at 12 million cubic meters a day, the least since Jan. 12, Interconnector Ltd. data show.

Gas accounted for 33 percent of U.K. power production at 4:34 p.m., grid data show. Coal generated 39 percent, nuclear 17 percent and wind 6.9 percent.

Electricity for Jan. 28 dropped 6.9 percent compared with yesterday’s contract for today to 47 pounds a megawatt-hour, broker data show.

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