UK GAS Prices: Prices remain high on cold, LNG provides some relief – Natural Gas

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UK gas prices remained high Tuesday morning — about 30% higher than where they began the month — with a freezing spring drawing hard on gas supplies but an LNG delivery provided some relief, one gas broker said.

The day-ahead contract was valued at 99.00 pence/therm at 1200 GMT, down by 5.00 p/th from Monday’s close while the within-day contract was unchanged at 98.00 p/th.

“I think people are a bit more comfortable with LNG en route,” the broker said.

The UK received the Q-Max Zarga LNG vessel from Qatar on Monday and the Q-Flex Tembek tanker is scheduled to arrive on Friday, Milford Haven port data showed.

Shipping data also indicated another delivery is expected from Trinidad.

The vessel is a BG carrier heading for Milford Haven port and is expected to arrive Sunday or Monday, Platts unit Bentek Energy said.

Demand remained well above norms Tuesday — by 102 million cubic meters with National Grid forecasting demand at 373 million cu m — but the system was well supplied.

via UK GAS: Prices remain high on cold, LNG provides some relief – Natural Gas | Platts News Article & Story.

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