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Dutch, German gas prices stable to weaker on ample flows

https://www.chemnet.com   Aug 01,2014 Platts
Gas prices on the Dutch and German trading hubs were stable to slightly weaker Thursday morning, as the focus edged away from concerns over events in Ukraine which have dominated recent sessions to center more on bearish supply and demand fundamentals.

At midday London time, the day-ahead contract on the Dutch TTF was seen at Eur17.20/MWh, down 15 euro cent from its Wednesday assessment, while, on its last day as front-month contract, August shed 30 euro cent to Eur17.30/MWh.

On the German NetConnect, the day-ahead contract was down 15 euro cent to Eur17.45/MWh, while on the GASPOOL it shed 25 euro cent to Eur17.25/MWh.

Further out, Q4 14 on the TTF edged 5 euro cent lower to Eur23.10/MWh, while Winter 14 remained at Eur23.95/MWh.

According to Norwegian exporter Gassco, 115 million cubic meters/day of Norwegian gas was reaching Dornum and Emden on the Dutch-German border at 1200 BST, down by about 5 million cu m/d from Wednesday, but still at normal levels.

Russian exports to the EU were similar to previous sessions, with 87 million cu m/d and 82 million cu m/d nominated to reach Germany via the Nord Stream and Yamal pipelines respectively, while 87 million cu m/d was nominated for delivery at Velke Kapusany on the Slovak-Ukrainian border, according to Platts unit Bentek Energy.

Bentek data showed German demand on Thursday expected to be at 132 million cu m/d.
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