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Unplanned outages could lift prices this week - 26-07-2021

Between Monday and Thursday last week, prices moved slightly higher each day, helped by a boost in demand from the extended heatwave, as brits used fans and AC to keep cool. Prices then levelled off. This morning we could see another steady rise, with unplanned outages in Norway reducing flows from Langeled.

July is also shaping up to be a dry month for LNG imports, with just one vessel currently inbound for the UK, due to arrive on the 31st July. This would mean only two shipments this month as the market looks to Asia for better prices. A worrying sign the UK may not be able to rely on LNG imports currently.