UK Natural Gas Falls as Norwegian, Dutch Imports Rise

From Bloomberg

By Matthew Brown

U.K. natural gas for same-day delivery fell as Norwegian flows increased to a nine-month high and imports from the Netherlands rose, leaving the delivery network with excess fuel.

The within-day contract slid as much as 0.9 percent, broker data compiled by Bloomberg show. Norwegian flows were at a rate of 132 million cubic meters a day, the most since Bloomberg started compiling the Gassco AS data in January. Dutch imports through BBL Co.’s pipeline rose to a rate of 39 million cubic meters a day, the most since April 14, according to National Grid Plc (NG/) data.

Gas for today dropped 0.7 percent, or 0.5 pence, to 68.4 pence a therm at 4:04 p.m. London time. Month-ahead gas was little changed at 69.4 pence a therm. That’s equivalent to $11.18 per million British thermal units and compares with $3.56 per million Btu of front-month U.S. gas.

The gas-transport system will contain 350 million cubic meters at 6 a.m. tomorrow, up from 346 million at the start of today, grid data show.

Day-ahead gas rose 0.5 percent to 68.95 pence a therm on predictions for freezing weather tomorrow that may boost demand for the heating fuel.

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