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CORRECTED-EUROPE GAS-Prices mixed on Norway maintenance, revised wind power output

ReutersAug 26, 2025 9:28 AM

- Dutch and British wholesale gas prices were slightly mixed on Tuesday morning, with lower demand forecasts weighing on the market while the start of a longer maintenance period at Norwegian gas fields is expected to provide support.

The benchmark Dutch front-month contract at the TTF hub TRNLTTFMc1 was up 0.08 euros at 33.43 euros per megawatt hour, or $11.38 per mmBtu, by 0829 GMT, LSEG data showed.

The day-ahead contract TRNLTTFD1 was up by 0.45 euros at 33.40 euros/MWh.

The British front-month contract TRGBNBPMc1 traded down 0.30 pence at 82.85 pence per therm, while the day-ahead price TRGBNBPD1 was down 0.65 pence at 83.10 pence per therm.

The drop in the British day-ahead contract was largely due to a downward revision of gas-for-power demand amid higher expectations for wind power generation, analysts at Northern Gas and Power said in a morning briefing.

British nuclear power generation is also set to improve in the coming days, they added.

However, Norwegian gas production is entering a period of planned maintenance, which will affect output for around a month, and may have a firming effect on prices, consultancy Auxilione said in a daily market report.

Nominations for Norwegian gas flows to Europe were down from 320 million cubic metres per day on Monday to 298 mcm/day on Tuesday, data from infrastructure operator Gassco showed.

Maintenance was starting to ramp up at the Aasta Hansteen and Troll fields, while capacity at the onshore Nyhamna processing plants was reduced by 40 mcm/day, LSEG analyst Saku Jussila said.

EU gas storage sites were last seen 76% full, compared with 91% seen at the same time last year, Gas Infrastructure Europe data showed.

In the European carbon market, the benchmark contract CFI2Zc1 was down 0.42 euro at 71.77 euros per metric ton.

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