Dutch and British wholesale gas prices edged up on Tuesday morning as a heatwave, low wind output and French nuclear generation increased demand.
The benchmark Dutch front-month contract at the TTF hub (TRNLTTFMc1) was up 0.30 euro at 32.63 euros per megawatt hour (MWh) by 0737 GMT, LSEG data showed.
The October contract was up 0.19 euro at 32.99 euros/MWh.
The British front-month gas price (TRGBNBPMc1) was up 0.40 pence at 80.26 pence per therm.
Low wind power generation and a heatwave is keeping gas-for-power demand high.
Lower than normal wind power output is expected to continue over the weekend in north-west Europe.
French nuclear output has also been affected by the heatwave and a swarm of jellyfish which has delayed the restart of four reactors at the Gravelines plant.
Total Norwegian export nominations have risen by 19 million cubic metres (mcm) to 329 mcm/day as an outage at the Aasta Hansteen field has been resolved, LSEG data showed.
Europe and Ukraine’s leaders will speak to U.S. President Donald Trump at a virtual meeting on Wednesday ahead of his summit with Russia’s Vladimir Putin.
Venture Global has won a legal battle against Shell over its failure to deliver liquefied natural gas under long-term contracts starting in 2023, the U.S. LNG major said on Tuesday.
Seperately, Venture Global said its 27.2-million-metric-ton Plaquemines facility was operating at 77% of its capacity, with 28 of its 36 plants – also called trains – now producing LNG.
In the European carbon market, the benchmark contract (CFI2Zc1) was up 0.34 euro at 71.84 euros per metric ton.
Source: Reuters