Dutch and British wholesale gas prices were up slightly on Thursday, trading in a narrow range, as soft demand curbed the impact of an unplanned outage at Norway’s Nyhamna gas processing plant.

The benchmark Dutch front-month contract at the TTF hub was up by 0.53 euro at 35.20 euros per megawatt hour (MWh), or $11.96/mmBtu, by 0827 GMT, while the September contract was 0.25 euro higher at 35.50 euros/MWh, LSEG data showed.

In the British market, the August contract was up 1.51 pence at 84.60 pence per therm.

Norwegian gas system operator Gassco revised the details of an unplanned outage at the Kollsnes gas processing plant, one of Norway’s biggest energy export facilities, saying it would cut output by 51.5 million cubic meters per day, more than its previous estimate of a 41.5 mcm/d cut to output.

Meanwhile, the unplanned outage at the Nyhamna gas processing plant continues, cutting output by 50 mcm/d. Both are expected to last until Friday.

“This has not been realized in flows yet, but there is a risk of further drops as well as these outages getting extended beyond today,” said LSEG analyst Saku Jussila.

Residential demand is expected to rise by 76 gigawatt hour per day to 1873 GWh/d on the day ahead but is seen flat during the weekend and lower next week due to a high wind power forecast, LSEG data showed.

Analysts at Engie’s EnergyScan said European net gas storage injections dropped sharply on Wednesday, adding that they are expected to drop again on Thursday, more moderately.

Gas storage inventories are now 63.49% full, more than 20% below 2024 levels, according to analyst estimates.

The European Union failed for a second day on Wednesday to approve a new package of sanctions against Russia as Slovakia continued to seek concessions over gas supplies, four EU diplomats told Reuters.

In the European carbon market, the benchmark contract (CFI2Zc1) inched down by 0.42 euro to 70.89 euros a metric ton.
Source: Reuters