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NORWAY GAS-Flows surge to Britain, fall to Germany

Mon, 03rd Jun 2013 09:18

* Norway gas exports total 234 mcm/d * Deliveries to UK surge to 66 mcm/d OSLO, June 3 (Reuters) - Norwegian pipeline gas exports fellon Monday morning as a drop in flows to Germany and Belgium morethan offset a rise to Britain, data from gas system operatorGassco showed. Deliveries to Europe including Britain were down to 234million cubic metres (mcm) by 0745 GMT versus an average of 249mcm last Friday. Supplies to Britain, Europe's biggest traded market, surgedby 32 mcm to 66 mcm, while combined exports to Germany sank by38 mcm to 97 mcm. Flows through the Vesterled pipeline to UK were restarted onMonday after maintenance at St. Fergus terminal was over. Meanwhile, supplies through Norpipe pipeline to Emdenterminal in Germany were shut due to maintenance expected tolast until June 24. Gas production from Ormen Lange field was to come back tonormal on Thursday after being partly reduced due to maintenancesince May 23, its operator Royal Dutch Shell's said. Deliveries to Belgium also dropped on Monday by 8 mcm to 31mcm, while those to France were steady at 40 mcm. Norway's export figures are based on gas fed into the systemat a certain time and calculated to a daily average. Volumes canvary throughout the day as producers adjust the amount of gasthey pump. Following is a summary of spot price settlements at Europeangas trading hubs: Gas hub May 30 May 31 NBP 26.6/66.8 26.5/66.4 TTF 26.5 27.0 NCG 26.8 27.0 Gaspool 26.8 27.0 Zeebrugge 26.7 26.6 Peg Nord 27.0 27.1 Peg Sud 31.0 32.1 Oil-indexed price 37.26/92.18 37.26/92.18 NOTE: Prices are in euros per megawatt-hour, except for NBP andoil-indexed prices, which are also given in pence per therm. The oil-indexed price is a monthly estimate by Thomson ReutersPoint Carbon and can vary due to day-to-day currencyfluctuations. (Reporting by Nerijus Adomaitis; editing by Keiron Henderson)

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