European natural gas: Dutch, German spot prices mixed, follows temperatures

London (Platts)--13 Nov 2017 919 am EST/1419 GMT

Dutch and German spot prices were mixed Monday, with German GASPOOL ticking higher on the back of lower temperature forecasts for Berlin, while in Amsterdam and Munich temperature was expected to remain unchanged.

  • TTF, NCG spot down 15 euro cent, GPL up 15 euro cent
  • Temperatures steady in Amsterdam, Munich, lower in Berlin
  • Dutch storage withdrawals jump to 73.71 mil cu m

On the day-ahead, Dutch TTF and German NetConnect contract for Tuesday delivery ticked 15 euro cent lower to Eur19.675/MWh and Eur19.725/MWh, while the equivalent GASPOOL contract ticked 15 euro cent higher to Eur19.60/MWh.

CustomWeather forecast temperatures in Amsterdam remaining steady Monday to Tuesday at 2 degree Celsius above seasonal norms.

Similarly in Munich temperatures were due to remain steady at 2 C below seasonal norms Tuesday, while in Berlin temperatures were also due to tick to 2 C below norms Tuesday, from seasonal norms Monday.

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The total demand in Netherlands is expected to be 110.6 million cu m Tuesday, from 116.2 million cu m Monday, while in Germany total demand was also forecast to tick lower to 342 million cu m Tuesday, from 345.4 million cu m Monday, according to Platts Analytics' Eclipse Energy.

Storage withdrawals from the Dutch storage networks were nominated at 73.71 million cu m Monday -- a sharp increase from the 25.84 million cu m around the same time Friday, according to Platts Analytics.

Norwegian flows to Dornum-Emden on the Dutch-German border were about 115 million cu m at around midday Monday, according to Dutch transmission system operator Gassco.

Total Norwegian pipeline exports were 307 million cu m/d Friday-Sunday, according to Platts Analytics.

Dutch natural gas production was expected to be 132 million cu m Monday, compared with 164 million cu m Friday and Saturday, also according to Platts Analytics.

On the front-month TTF and GASPOOL prices for December delivery moved 10 euro cent and 17.5 euro cent lower, respectively, at Eur19.60/MWh and Eur19.275/MWh while NCG front-month was heard at a bid-offer spread of Eur19.65-Eur19.90/MWh.

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