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European gas: Dutch TTF spot discount to Germany widens

Increase font size  Decrease font size Date:2014-10-09   Views:385
The discount of Dutch TTF spot to equivalent German prices widened Wednesday after a sharp contraction was seen Tuesday.

By midday UK time, the TTF day-ahead last dealt at Eur20.075/MWh, down 17.5 euro cents, while the corresponding German GASPOOL and NetConnect prices were up 2.5 euro cents and 10 euro cents, respectively, at Eur20.425/MWh and Eur20.65/MWh.

Dutch spot losses and German gains stretched the TTF day-ahead discounts to GASPOOL and NetConnect back out to 35 euro cents and 57.5 euro cents, respectively, after they narrowed to 15 euro cents and 30 euro cents Tuesday.

Norwegian gas was flowing strongly into Europe after the conclusion of the summer maintenance season.
Real-time Norwegian flows into Emden-Dornum on the Dutch/German border were at 145.3 million cubic meters/day rates Wednesday at around midday UK time.

Norwegian imports into the Netherlands were nominated 11 million cu m higher day on day at 53 million cu m, while Germany was nominated to receive 97 million cu m compared with 91 million cu m Tuesday, according to data from Platts unit Bentek Energy.

Meanwhile, Russian deliveries into Europe were nominated at a robust 230 million cu m, with deliveries of 90 million cu m, 80 million cu m and 60 million cu m expected through the Nord Stream, Yamal and Brotherhood pipelines, respectively.

CustomWeather forecast temperatures in Amsterdam at 1 C and 4 C above seasonal norms Wednesday and Thursday, with Berlin pegged at 6 C and 9 C above norms for the same days.

On the curve, November TTF last dealt by midday UK time 5 euro cents higher at Eur23.25/MWh, while corresponding NetConnect was up 17.5 euro cents at Eur23.725/MWh.

November GASPOOL was seen in a Eur23.425-23.50/MWh market, compared with Eur23.40/MWhh at Tuesday's close.
 
 
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