Dutch and British wholesale gas prices edged higher on Thursday morning as a ramp-up in Norwegian maintenance curbed supply.

The benchmark front-month contract TRNLTTFMc1 at the Dutch TTF hub was up 1.26 euro at 36.35 euros per megawatt hour (MWH), or $11.88 mmBtu, by 0810 GMT, while the November contract TRNLTTFMc2 was 0.62 euro higher at 38.05 euros/MWh, LSEG data showed.

In the British market, the day-ahead contract TRGBNBPD1 rose by 2.15 pence to 85.50 pence per therm.

Total Norwegian exports are expected down 13 million cubic metres/day (mcm/d) compared with the previous day as maintenance at the Kollsnes processing plant ramps up, LSEG data showed.

However the impact of maintenance will ease off in the coming days, LSEG analysts said.

“Tomorrow several maintenances will be ending and easing out. Gassco suggests that the maintenance impact reduction might be up to 98mcm/d, but we predict the increase in total flows at around 40mcm/d,” LSEG analyst Saku Jussila said.

Supply of gas from Russia to Europe via Ukraine remained steady amid attacks on Ukraine’s energy system.

Russia’s Gazprom GAZP.MM said it would send 42.3 million cubic metres of gas to Europe via Ukraine on Thursday, the same volume as on Wednesday.

“The underlying outlook remains unchanged but geopolitical tensions can change things very quickly. Escalations in the Middle East or on the Ukraine-Russia border continue to be closely monitored,” consultancy Auxilione said in a daily research note.

In the European carbon market, the benchmark contract CFI2Zc1 was 0.48 euro higher at 64.15 euros per metric ton.
Source: Reuters (Reporting By Susanna Twidale; Editing by Mrigank Dhaniwala)