Spain Sets New Gas Record; Prices High

Spain set a fresh record on January 19 with daily gas consumption of 1.58919 terawatt-hours (147.8mn m³), the highest level since February 2012, and just above the previous day’s level, gas grid operator Enagas has said.

Power generators burned 0.3607 TWh of gas – one third more than on January 18. Use by homes, businesses and industry on January 19 was 1.2285 TWh, similar to the previous day’s 1.2292 TWh.

Spain’s state meteorological agency is predicting slightly milder temperatures, said Enagas January 20.

Spanish and southern French gas prices, at €37.40/MWh ($11.65/mn Btu) and €37.715/MWh respectively, for gas delivered January 20 remain higher than current spot Asian LNG prices – with French grid operator GRTgaz flagging a ‘red alert’ in regard of network balancing in southeast France.

NGW Vol 2, issue 1 on January 11 analysed how prices in the region had already overtaken Asia's, generally the world's least competitive and over-priced LNG importing region.

Mark Smedley