London — Dutch spot prices posted mild gains on Tuesday morning, as the market expected more gas exports from Netherlands to Germany against the backdrop of thin trading, traders said.
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TTF for day-ahead delivery traded at Eur19.10/MWh on Tuesday morning, up slightly from Monday's assessment, boosted by the expectation of higher gas demands from Germany, a trader said.
"The German system today seems slightly short within day, which means there might be an undersupply that requires more gas from Netherlands," the trader said. "Weather is also a driver as the forecast overnight shows a bit lower temperatures."
The NetConnect Germany for day-ahead delivery contract gained 25 euro cent relative to Monday's assessment, trading at Eur19.025/MWh.
Temperatures across Germany were forecast to be warmer on Wednesday before falling 1-3 degrees Celsius throughout the weekend, data from CustomWeather showed.
Dutch L-cal gas exports to Germany kept surging in the last couple days, hitting 67.7 million cu m on Monday after averaging 63 million cu m/d in Week 2, data from Platts AnalyticsEclipse Energy showed.
Norwegian gas flows into the Emden-Dornum receiving terminals dropped to 120 million cu m on Tuesday morning, down 7 million cu m from Monday, according to Norwegian gas pipeline operator Gassco.
Dutch gas production is expected to drop with nominations at 106 million cu m, compared with the 131 million cu m produced Monday.
TTF for winter 2019 contract was trading 2.5 euro cent higher at Eur18.375/MWh, while the March contract was trading at Eur18.925/MWh.