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NORWAY GAS-Flows drop to France, outweighing rise to Germany

Mon, 19th May 2014 09:27

* Norway pipeline gas exports fall to 258 mcm/day * Warm weather dents demand across northwestern Europe OSLO, May 19 (Reuters) - Norwegian gas exports fell onMonday morning as a sharp drop in flows to France was onlypartly offset by a rise in flows to Germany, data from gassystem operator Gassco showed. The drop has come as warmer weather dented consumptionacross northwestern Europe, analysts at Thomson Reuters PointCarbon said. In Britain, temperatures were expected to remain 4.5 Celsiusabove normal on Monday and Tuesday, also subduing consumption. Later this week, Norwegian gas flows are expected to bereduced due to maintenance at several gas fields. The 48-hourmaintenance period on May 21-23 is expected to reduce gas outputby 35 million cubic metres (mcm) per day. The volume indicates this is likely to be at the Aasgardfield, which delivers gas to the Kaarstoe gas processing plant. Deliveries to Germany may be affected as a result of thismaintenance, analysts at Thomson Reuters Point Carbon said. Another planned field maintenance on May 23-29 is scheduledto reduce output from the Norwegian continental shelf by 60 mcmper day. The volume indicates that this is likely to be taking placeat Royal Dutch Shell's Ormen Lange field, Norway's secondlargest. The following table shows Norwegian pipeline gas flowsmeasured in mcm/day compared with the previous day's closinglevel: Destination Real time Pvs session Change (mcm) Britain 45 44 1 Germany & Netherlands 146 139 7 France 26 46 -20 Belgium 41 44 -3 Total 258 273 -15 NOTE: Pipeline gas export figures are based on gas fed into thesystem at a certain time and calculated as a daily average.Levels can vary throughout the day as producers adjust theamount of gas they export, according to changing nominations, ororders, from customers. Following is a summary of spot price settlements at Europeangas trading hubs: Gas hub May 16 May 15 NBP (UK) 18.5/44.2 18.9/45.2 TTF (Netherlands) 18.9 19.2 NCG (Germany) 19.2 19.3 Gaspool (Germany) 19.0 19.3 Zeebrugge (Belgium) 18.8 19.0 Peg Nord (France) 19.5 19.5 Peg Sud (France) 24.6 25.0 Oil-indexed prices* 28.85/30.83/34.26 28.85/30.83/34.26 NOTE: Prices are in euros per megawatt-hour, except for NBP(euros/MWh & p/th). The oil-indexed price for Russian gas is anestimate by Thomson Reuters Point Carbon. * The oil-indexed prices mentioned above are in order:Russia spot-indexed gas/Russian oil-linked discountedgas/Russian outright oil-indexed gas. (Reporting by Nerijus Adomaitis; editing by Jane Baird)

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