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European spot gas prices increased strongly yesterday, supported by higher gas demand due to the drop in temperatures below normal and lower wind power generation.
The rise has spread to curve prices, which received additional support from the rise in Asia JKM prices and parity prices with coal for power generation (both EUA and coal prices were up).
On the pipeline supply side, Norwegian flows were up yesterday, averaging 290 mm cm/day, compared to 284 mm cm/day on Friday. Russian flows remained stable at 331 mm cm/day on average.
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