Jan 12 (Reuters) - British wholesale gas prices soared to
fresh more than two-year highs on Tuesday as colder weather
stoked demand and rocketing Asian liquefied natural gas (LNG)
prices curbed supply to Europe.
* The within-day contract was up 5.00 pence at
pence per therm by 0937 GMT, its highest level since October
* The day-ahead contract was up 3.80 p at 71.00
* Traders said temperatures were forecast to go lower and
prices of LNG had lifted gas prices across Europe.
* Asian LNG prices have rocketed over the last few weeks as
weather grips the region, hitting record highs.
* As a result, fewer tankers are arriving in Europe.
* The Boris Davydov LNG tanker is docked at Britain’s Isle
Grain terminal, but no other LNG tankers are scheduled to arrive
over the next few weeks.
* Meanwhile colder temperatures in Europe are also pushing
* "Sudden stratospheric warming is bringing cold arctic air
into Europe as well, which has led to a surge in power demand,”
analysts at Barclays said in a research note
* “This lowered the previously robust storage level to a
level and sent the European natural gas prices to a two-year
high,” Barclays analysts said.
* Average temperatures in Britain were forecast at 5.3
Celsius for Tuesday, falling to 3.5 C on Wednesday Refintiv
Eikon data showed.
* The forecasts were 0.7C and 2C respectively lower than
* The February contract was up 5.25 p at 72.50
p/therm, the highest price for the font month contract since
* The day-ahead gas price at the Dutch TTF hub
1.65 euro at 23.95 per megawatt hour.
(Reporting By Susanna Twidale; editing by Nina Chestney)