Europe-UK gas pipe shows increased flow volumes

Flows on the gas pipe linking continental Europe with the UK continued to increase to new highs, according to data released by operator IUK. IUK data showed flows on Friday Jan 4 at 781.77556 TJ from Zeebrugge to the UK, well above the already record reverse flow volumes. The highest daily flows to the UK last January were only at 517.17 TJ according to IUK data.

The cold snap sent demand in the UK soaring and prices on the UK market with them. Companies owning capacity on the Interconnector pipe took the opportunity to maximize its usage as prices in the continent remained well below those in the UK. The price differential between the two markets was less clear cut as there was little recorded basis trade between the UK's NBP market and the Zeebrugge hub market.