UK prices firm with maintenance

摘要

UK NBP prompt prices climbed in early August with unplanned constraints coinciding with extensive scheduled maintenance. UK production had been widely expected to fall in the first half of August as associated gas fields shut down around Forties Pipeline System maintenance. But Norwegian deliveries to the UK slid with unplanned restrictions at a number of fields and the Kollsnes processing plant. The lower UK and Norwegian production lifted NBP near-curve prices. Midrange sites swung to net withdrawals after steady injections in July. Interconnector exports edged lower in the first half of July despite the stockdraw, which has curbed injections on the continent. Dutch and German inventories were already below average and the slower-than-expected stockbuild has boosted demand for gas to add to storage in September and October.