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NORWAY GAS-Flows plunge due to major maintenance

Thu, 23rd May 2013 09:00

* Norway gas exports total 233 mcm/d * Deliveries to Britain halved OSLO, May 23 (Reuters) - Norwegian pipeline gas exports toBritain and Belgium dropped sharply due to major fieldmaintenance started on Thursday morning, data from gas systemoperator Gassco showed. Deliveries to Europe including Britain were down to 233million cubic metres (mcm) by 0740 GMT versus an average of 285mcm on Wednesday. Supplies to Britain, Europe's biggest traded gas market,were halved from 66 mcm the previous day, with flows through the72 mcm Langeled pipeline running at a rate of just 6 mcm perday. Norwegian gas output was expected to be cut by 55 mcm onThursday due to field maintenance, after it has been alreadyreduced by 40 mcm since April 1, Gassco said onWednesday. Analysts at Point Carbon, a Thomson Reuters company, saidthe reduction on Thursday is likely to be related to maintenanceat the country's biggest gas field, Troll. Gassco had not specified which field would be affected, buthad reported the expected impact and duration. The 55 mcm maintenance is expected to last for one day, buton Saturday more maintenance is due to start, reducing output by54 mcm per day until July 12, Gassco said. Also, output from Shell's Ormen Lange gas fieldcould be reduced by 10 to 36 mcm per day due to maintenance fromMay 23 until June 2, the analysts added. On Thursday, Norwegian gas deliveries to other markets werealso hit, with flows to Belgium being reduced by 14 mcm to 23mcm. Supplies to France and Germany eased by 3 mcm each to 43 mcmand 133 mcm respectively. Norway's export figures are based on gas fed into the systemat a certain time and calculated to a daily average. Volumes canvary throughout the day as producers adjust the amount of gasthey pump. Following is a summary of spot price settlements at Europeangas trading hubs: Gas hub May 21 May 22 NBP 27.4/68.4 27.6/69.2 TTF 27.2 27.7 NCG 27.5 27.8 Gaspool 27.4 27.8 Zeebrugge 27.1 27.5 Peg Nord 27.5 27.6 Peg Sud 32.9 33.5 Oil-indexed price 37.26/92.18 37.26/92.18 NOTE: Prices are in euros per megawatt-hour, except for NBP andoil-indexed prices, which are also given in pence per therm. The oil-indexed price is a monthly estimate by Thomson ReutersPoint Carbon and can vary due to day-to-day currencyfluctuations. (Reporting by Nerijus Adomaitis; Editing by Alison Birrane)

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