LONDON, Jan 14 (Reuters) - British and Dutch gas prices rose
on Friday morning on a colder weather outlook until mid-February
and lower Norwegian flows.
The British contract for February delivery rose
by 20.00 pence to 2.20 pounds per therm by 1005 GMT, while the
day-ahead contract was up 19.00 pence at 2.20 pounds
per therm.
The benchmark Dutch front-month contract rose
by 7.72 euros to 91.72 euros per megawatt hour (MWh), while the
contract for next day delivery rose by 12.15 euros
to 92.10 euros/MWh.
Prices started to rise yesterday afternoon after an
unplanned outage at the Troll gas field reduced Norwegian flows
to Britain and continental Europe.
The maintenance at Troll has a 26 million cubic metre (mcm)
day reduction and is scheduled to last until Jan. 17 but with
"uncertain duration," Refinitiv gas analysts said.
The weather outlook has also turned colder for Britain and
north-west Europe from Jan. 20 until mid-February, which could
raise demand for heating.
"The weather forecast turning colder, less Norwegian and
Russian flows, possibly slowing LNG barrage and less gas in
storage are all driving prices higher," a European gas trader
said.
Weaker wind output towards the end of the week is also
expected which could increase gas-for-power demand.
Traders also said news from France's EDF that the company
may have to examine halting reactors outside its planned
calendar was bullish.
The Yamal-Europe pipeline, which usually sends Russian gas
west into Europe, flowed east from Germany to Poland for a 25th
successive day on Friday, data from German network operator
Gascade showed.
In other markets, the European benchmark December 2022
emission allowance (EUA) contract euros inched up by
1.19 euros to 81.75 euros a tonne.
(Reporting by Marwa Rashad; Editing by Nina Chestney)