Dutch and British wholesale gas prices were steady on Wednesday as balanced supply and demand left the market rangebound.
The benchmark front-month contract at the Dutch TTF hub TRNLTTFMc1 was up 0.50 euros at 31.9 euros per megawatt hour (MWh), or $10.12/mmBtu, by 0824 GMT, LSEG data showed.
The Dutch day-ahead contract was up 0.30 euros at 31.60 euros/MWh.
In the British market, the front-month contract was up 1.11 pence at 73.23 pence per therm.
“The market continues to hold station around this level, as it has done for many weeks now, with small movements in either direction over a period of time,” consultancy Auxilione said in a daily research note.
Supply remained strong, with total liquefied natural gas (LNG) sendout for northwest Europe expected today at 1,452 gigawatt hours/day, up from 1,335 GWh/day on Tuesday, LSEG data showed.
Concerns over future LNG supplies also eased after U.S. LNG exporters resumed shipments after shutting operations ahead of Hurricane Beryl.
Russia’s Gazprom said it would send 42.2 million cubic metres (mcm) of gas to Europe via Ukraine on Wednesday, the same volume as the previous day.
In Britain, peak wind power output is forecast at 11.1 gigawatts (GW) on Wednesday, and 10.7 GW on Thursday, Elexon data showed.
In the European carbon market, the benchmark contract CFI2Zc1 inched up by 0.88 euros to 66.64 euros a metric ton.
Source: Reuters (Reporting By Susanna Twidale; Editing by Eileen Soreng)