Apollo Energy publishes a daily energy market analysis, focusing on the gas, power and oil markets including a commentary on how the markets close and open. Our analysis provides insight on how the markets are performing and also considers various factors which could dictate price changes in the future.
The analysis also contains a graph which tracks the one-year forward price of both gas and electricity as well as changes to Brent crude oil.
Flows at Baumgarten resumed within 24 hours following the explosion on Tuesday, while it was confirmed the Forties Pipeline would be offline for 2 weeks, resulting in downward movement on the gas curve. The system was 40mcm short but the Troll facility was expected to return today, with milder weather forecast for next week, limiting the effects of short supply.
Gas prices increased significantly yesterday following an explosion at Baumgarten, a major natural gas hub in Austria. This news followed the shutdown of the Forties pipeline which could put UK supply levels in jeopardy over the coming weeks. Temperatures were also very cold in the UK, lifting LDZ demand, while outages in Norway reduced exports.
Gas prices surged higher yesterday afternoon following an announcement regarding the shutdown of the Forties pipeline which has halted North Sea oil and gas supply. Prices started and ended the session at a premium as cold weather lifted LDZ demand and Norwegian flows decreased due to unplanned outages.