Latest news with #Gassco
Al Arabiya
3 days ago
- Business
- Al Arabiya
Prices fall on Trump China comments, oil market drop
Dutch and British wholesale gas prices fell on Friday afternoon after being quite rangebound earlier in day, prompted by fresh concerns over a US-China trade war and falling oil prices. The benchmark Dutch front-month contract at the TTF hub was down 0.66 euro at 34.26 euros per megawatt hour (MWh) by 1318 GMT, marking a 10-day low, LSEG data showed. The July contract fell by 1.18 euros to 34.08 euros/MWh. The contracts earlier traded largely flat but showed a clearer downward trend in a reaction to comments by US President Donald Trump that China had violated an agreement on tariffs with the United States, a trader said. In combination with lower oil prices on news that OPEC+ producers could discuss a bigger July output rise this weekend, it was 'not great for gas,' the trader added. The British front-month contract was down 1.06 pence at 83.40 p/therm, while the weekend contract was down 4.00 pence at 79.50 p/therm. Prices are now largely back to the levels seen before a bout of Norwegian maintenance that started last week, LSEG analyst Saku Jussila said earlier. Total Norwegian export nominations recovered to 300 million cubic meters/day (mcm/d) on Friday afternoon from 296 mcm/day on Thursday, data from infrastructure operator Gassco showed. TTF gas prices had increased by almost 10 percent in May driven by concerns around tariffs, weather, and further delay risk for upcoming liquefied natural gas (LNG) projects, analysts at Jefferies Equities Research said in monthly report. 'We continue to see a tight market in '25, due to higher European injection demand, lost Russian pipeline imports (15bcm/yr), and LNG project delays,' they said. European gas storages sites are currently 47.2 percent full, data from Gas Infrastructure Europe showed. In the European carbon market, the benchmark contract was down 0.46 euro at 70.47 euros a metric ton.
Reuters
03-04-2025
- Business
- Reuters
Equinor shuts Norway's Kollsnes gas processing plant due to power outage
OSLO, April 3 (Reuters) - Equinor ( opens new tab shut down Norway's Kollsnes gas processing plant and evacuated the facility on Thursday due to a loss of power supply, a company spokesperson said. The Kollsnes plant is one of Norway's biggest energy export facilities with a daily capacity to process 158 million cubic metres of natural gas, according to the plant's owner Gassco. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here. "We have had a power outage at Kollsnes which has resulted in a controlled shutdown of the facility. We are evacuating the facility for personnel," the Equinor spokesperson said in a statement.
Reuters
01-04-2025
- Business
- Reuters
Norway to send more gas to Europe in summer of 2025, Gassco says
OSLO, April 1 (Reuters) - Norwegian natural gas flows to Europe are expected to be higher during the summer of 2025 compared to the two previous years due to a less extensive maintenance programme, gas system operator Gassco said in a statement on Tuesday. The maintenance season at Norwegian oil and gas fields, and at onshore processing plants, officially begins on April 1 and lasts through the summer. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here. "This year's planned maintenance activities are based on stable and high natural gas deliveries from Norway to Europe throughout the period," Gassco said, adding that less work was planned in 2025 than in 2023 and 2024. "This will lead to increased deliveries this summer," it said.
