U.K. Natural Gas Erases Gains as South Hook LNG Flows Resume
U.K. natural gas for within-day delivery erased an earlier gain after flows resumed from South Hook LNG Terminal Co.’s facility in Wales.
Day-ahead and next-month gas were little changed, according to broker data compiled by Bloomberg. Flows from South Hook rose to 23 million cubic meters a day after falling to zero at about 4 a.m. London time, National Grid Plc (NG/) data show.
The Shagra tanker docked at South Hook from Qatar yesterday, the first delivery since Oct. 1, according to the Milford Haven Port Authority. A second vessel, the Al Mayeda, is due to arrive from the emirate later today.
Gas for today was unchanged at 65 pence a therm at 4:41 p.m. London time. Month-ahead gas climbed 0.3 percent to 66.22 pence a therm. That’s equivalent to $10.51 per million British thermal units and compares with $3.52 per million Btu of front- month U.S. gas.
Demand in the 24 hours to 6 a.m. tomorrow will be 257 million cubic meters, below the seasonal normal of 262 million, according to National Grid data. The delivery network will contain 337 million cubic meters at the end of the period, about the same as at the beginning, grid data show.
Gas accounted for 32 percent of U.K. power production at 4:40 p.m., grid data show. Coal generated 41 percent, nuclear 14 percent and wind 5.6 percent.
Day-ahead electricity rose 0.5 percent to 47.75 pounds a megawatt-hour. Next-month power added 1.1 percent to 49.20 pounds a megawatt-hour.
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