London — The TTF and NCG natural gas contracts danced in opposite directionsWednesday, with the spot and the curve contracts mixed. Norwegian flows rampedup slightly into continental Europe, amid less unplanned works, while colderforecast temperatures and higher crude futures weighed on the contracts,traders said.
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* Dutch H-cal exports increase to Belgium, Germany
* Dutch storage injections rise at Bergermeer
* Near-term temps to cool end of week to 2-4 C below norms
The market focus however remained on Brent crude, with the OPEC meetingdue Friday to potentially trigger higher production volumes, one German-basedtrader said. In the meantime, the market remained calm with the volatilityindex, VIX down 3.90% to $12.83/share Wednesday at 1130 GMT, the CBOE said.
Norwegian flows to the Dutch-German border Emden-Dornum rose 2 million cum/d Wednesday to 132 million cu m/d, Norwegian gas operator Gassco showed.
Norwegian natural gas flows to continental Europe rose slightly as amaintenance pressuring flows at the Gullfaks gas field ended. Unplanned worksat the Kollsnes and Kristin gas hubs in the North Sea continued to impactwithin-day flows by 14 million cu m/d and 12.2 million cu m/d respectively.The expected duration of the maintenance remained uncertain, the operatorsaid.
Temperatures in Amsterdam and Berlin were set to support spot pricesthroughout the end of week as they were expected to fall back below seasonalnorms, by 2-4 degrees Celsius, CustomWeather forecast.
The TTF spot fell 15 euro cent/MWh to Eur22.05/MWh at 1100 GMT, whilethe prompt month rose 2.5 euro cent/MWh to Eur21.675/MWh. Meanwhile, NCG spotprices fell 5 euro cent/MWh to Eur22.05/MWh.
Storage injections rose on the day with Dutch H-cal injections up to 10.6million cu m/d from 7.4 million cu m/d at Bergermeer, while injections atother Dutch injection points remained unchanged, data from S&P Global PlattsAnalytics showed.
Work on the UK-Belgium Interconnector lasting until June 28 led to aramp-up in Dutch H-cal export flows to Belgium. Dutch flows to the countryrose to 7.5 million cu m/d from 5.7 million cu m/d at the sGravenvoeren borderpoint. Further, Dutch H-cal exports to Germany rose to 8.8 million cu m/d from7.9 million cu m/d, the data showed.
The Netherlands' indigenous L-cal gas production rose to 52.8 million cum/d, from 52.4 million cu m/d Tuesday.