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U.K. Gas Falls as Norwegian, Dutch Supplies Rise, Demand Slips
2010-07-27 08:59:46.106 GMT
By Ben Farey
July 27 (Bloomberg) -- U.K. natural gas fell as deliveries
from Norway and the Netherlands rose while demand was forecast
to decline.
National Grid Plc data show imports through the Langeled
link from Norway rose to a rate of 42 million cubic meters a day
today, their highest level since July 6. Norway is the biggest
foreign supplier to Britain.
Demand for gas in the 24-hour period through 6 a.m.
tomorrow will be 215 million cubic meters, about 7 million below
normal for the time of year and lower than yesterday, according
to National Grid's forecast.
Gas for next-month delivery slipped 0.2 pence, or 0.5
percent, to 39.65 pence a therm at 9 a.m. in London, according
to broker data compiled by Bloomberg. That's equal to $6.14 a
million British thermal units. A therm is 100,000 Btus.
Dutch flows into Bacton through the BBL pipeline rose about
40 percent to a rate of 21 million cubic meters a day, Grid data
show.
Gas for today fell 2.25 pence to 41.25 pence a therm.
Winter gas, to be delivered in the six months through March,
slipped 0.3 pence to 47.7 pence a therm.
Total SA didn't immediately respond to an e-mail asking if
its North Sea Alwyn Area oil and natural-gas fields started
after a technical fault halted output last week.
Bloomberg compiles prices from brokers including ICAP Plc,
GFI Group Inc. and Spectron Group Ltd.
For Related News and Information:
Top Gas story page: TGAS <GO>
U.K. Gas prices: UGAS <GO>
--Editors: Randall Hackley, Rob Verdonck
To contact the reporter on this story:
Ben Farey in London at +44-20-7673-2369 or
bfarey@bloomberg.net
To contact the editor responsible for this story:
Stephen Voss on +44-20-7073-3520 or sev@bloomberg.net
