News broke on Friday that the outage at the Norwegian Troll field would last until 1st April (instead of 4th February) - which supported European spot and near curve prices. NBP ICE February 2013 prices rose by 2.01% at close.
The UK gas system sat more comfortably yesterday, with a drop in storage withdrawals after higher domestic production and BBL flows. Pressure was felt after news that the Elgin-Franklin fields are likely to restart in mid-February.
As a result of the unplanned outage at the Norwegian Troll field lasting longer than expected, total gas flows from Norway to Europe dropped yesterday - down 30 mm cm/day compared to last week's levels.