Prices rise as supplies from LNG terminals drop
11/21/2019
British wholesale gas prices rose as supplies from the country’s liquefied natural gas (LNG) terminals fell, leaving the market undersupplied.
The within-day contract was up 1.05 pence at 40.90 p/therm at 0934 GMT. The day-ahead contract was up 0.10 pence at 40.10 p/therm.
Traders said send-out from many from some of the country’s LNG terminals was much lower on Thursday.
Total LNG send-out was 69 mcm, down 24 mcm from the previous day, Eikon Refinitiv data showed.
Four LNG tankers are scheduled to arrive in Britain by the end of the week, which will replenish supply.
Britain’s gas system was undersupplied by 34.5 million cubic meters (mcm), with demand forecast at 310.3 mcm and flows at 275.8 mcm/day, National Grid data showed.
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