The reopening of a link between Britain and Belgium may help slow declines in U.K. natural gas prices this week as maintenance starts on the only natural gas pipeline directly from Russia to Germany.
U.K. and Dutch natural gas prices climbed the most in more than three months as Russia’s pipeline- gas export monopoly OAO Gazprom cut shipments to Ukraine, threatening flows to the European Union.
Natural gas displaced coal in U.K. power generation for the first time in a year as the pace of the fuel’s price decline makes it more profitable to burn.
The largest deliveries of liquefied natural gas cargoes to the U.K. in a year are sending prices for the day-ahead fuel in Europe’s biggest market to a sixth monthly decline, the longest losing streak since at least 2007.
European natural gas injections may accelerate as warmer-than-usual weather and fears of disruptions via Ukraine make it more profitable to store the heating fuel, according to analysts.
John Ceviker joined Bank of Nova Scotia as vice president of investment banking from Deutsche Bank AG, according to Vlaad and Co., a Toronto-based financial- services recruiting firm.
Increased liquefied natural gas deliveries into the U.K. are helping damp prices in Europe’s biggest market as a stronger pound helps narrow the discount of the chilled fuel in Europe to Asia.
A sixth month of warmer-than-usual weather in May is set to extend the longest losing streak for European natural gas prices in almost five years.
U.K. natural gas fell to a three- year low as weather forecasts pointed to higher temperatures this week than previously estimated and demand declined to the lowest level since October.
"At the moment, LNG is freely flowing into the U.K., storage levels are up against historical average, and on the continent, power stations are favoring coal over gas."
- Nick Campbell on Jun 16, 2014