UK gas prices fall as LNG imports create oversupply
Published by Will Owen,
Reuters is reporting that British gas prices have fallen as regular supplies via pipeline and LNG imports, in addition to recent forecasts of milder weather, have led to oversupply.
The within-day gas price, as of the morning of 26 November, was 0.65 pence lower at 65.00 p/therm. The day-ahead contract had also fallen by 1.25 pence to 65.25 p/therm. The gas for December delivery rate was recorded as being 1.45 pence lower at 65.90 p/therm.
The UK gas system is currently over-supplied by approximately 21 million m3, with expected supply currently standing at 324.1 million m3 and demand at 303.5 million m3.
LNG deliveries to Britain this November have reached their highest point since September 2016 (1.8 million m3/0.826 million t).
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/26112018/uk-gas-prices-fall-as-lng-imports-create-oversupply/
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