Prices little changed on flat demand, Freeport LNG resumption
LONDON, July 23 (Reuters) -Dutch and British wholesale gas prices were little changed on Tuesday morning as demand was flat and the U.S. Freeport LNG export plant resumed shipments.
The front-month contract at the Dutch TTF hub TRNLTTFMQ4 inched down by 0.05 euro to 31.85 euros per megawatt hour (MWh), or $10.15/mmBtu, by 0810 GMT, LSEG data showed.
In the British market, the day-ahead price TRGBNBPD1 was 0.20 pence higher at 73.50 pence per therm.
Demand is forecast rangebound in north-west Europe due to the latest flat temperature forecasts and increasing French nuclear and German solar output over the next couple of days, said Timothy Crump, gas analyst at LSEG.
"LNG arrivals remain subdued across north-west Europe. Flows from Norway also remain steady despite adjustments to the outage schedule," he added.
There are several ongoing outages in Norway, with the Troll and Kristin fields expected to come back a day earlier than planned, tomorrow.
But during the two first weeks of September, over 160 million cubic metres per day of production capacity will offline. NSEA/AM
On Monday, the United States' second largest liquefied natural gas exporter Freeport LNG resumed shipments after shutting operations ahead of Hurricane Beryl, with processing on track to reach about half its capacity, according to preliminary LSEG data.
Ukraine's largest state energy company Naftogaz is planning to increase its gas and oil production this year despite a constant threat of Russian bombardments, its chief executive said on Monday.
CEO Oleksiy Chernyshov said that Naftogaz plans to produce 15 billion cubic metres (bcm) of natural gas in 2024. In 2023, the company's gas production totalled 14 bcm.
In the European carbon market, the benchmark contract CFI2Zc1 was inched up by 0.08 euro to 64.80 euros per metric ton.
Reporting by Nina Chestney
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