* Norway gas exports total 278 mcm/d * Deliveries to UK rise to 81 mcm/d * Ormen Lange back to normal production OSLO, June 6 (Reuters) - Norwegian pipeline gas exportscontinued to rise on Thursday, mainly on higher flows toBritain, data from gas system operator Gassco showed. Deliveries to Europe including Britain were up to 278million cubic metres (mcm) by 0700 GMT versus an average of 265mcm on Wednesday. Supplies to Britain, Europe's biggest traded market, firmedby 11 mcm to 81 mcm, with flows through the 72 mcm capacityLangeled pipeline running at a rate of 45 mcm per day. Royal Dutch Shell's Ormen Lange field, which feedsthe Langeled pipeline, was expected to return to normalproduction by Thursday. Production on the Norwegian continental shelf continues tobe restricted by ongoing maintenance at its biggest gas field,Troll, with capacity reduced by 54 mcm until July 12, analystsat Point Carbon, a Thomson Reuters company, said. Combined exports to Germany and the Netherlands firmed by 6mcm to 114 mcm, while those to Belgium were steady at 41 mcm. Supplies to France slipped by 5 mcm to 42 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 June 4 June 5 NBP 25.1/63.0 25.0/62.3 TTF 26.5 26.4 NCG 26.8 26.6 Gaspool 26.7 26.6 Zeebrugge 25.6 25.6 Peg Nord 26.5 26.6 Peg Sud 30.4 30.8 Oil-indexed price 37.26/92.18 36.69/91.78 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)
Shell announces $4bn share buyback as Q3 profits beat expectations
(Sharecast News) - Oil giant Shell announced a $4bn share buyback on Thursday as it posted better-than-expected third-quarter profits.
Read more