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European spot gas prices were mixed again yesterday, torn between the opposite impacts of lower temperatures and higher LNG supply. Once again, the trend was more clearly bearish for curve prices; this time, the drop was more in line with the drop in parity prices with coal for power generation (following lower EUA and coal prices).
On the pipeline supply side, due to process problems at the Aasta Hansteen field, Norwegian flows dropped yesterday, averaging 319 mm cm/day, compared to 325 mm cm/day on Tuesday. Russian flows continued to normalize, rising to 319 mm cm/day on average, compared to 317 mm cm/day on Tuesday.
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