OTC Gas Prices

Week review of OTC trading of gas from 20 to 27 August 2010 the OTC spot market presented itself to the start of the week at the highest level, reduced but then again between 17-18 euro / MWh. The day ahead contract prices “in Germany and the Netherlands increased its surcharge to the NBP to conclude a week to 90 cents / MWh. While Germany is still in a vacuumed. Omega weather “is, flows unabated cold air. Extreme rainfall enhance the feeling of early fall start, what has resulted, that increases the heat energy consumption. The industry assumes, therefore, that increased supply activities have started in the heating oil market. Indirectly expected price increases would affect gas prices also on the OTC, so the statements of the gas distributor. Wells Fargo Bank spoke with conviction.

(The country rates 1) part on Friday: NCG/GAS POOL 19.96 EUR / MWh, TTF 19.87 euros / MWh and the NBP equivalent 19,36 euros / MWh. 1) estimated average price of all the current buy recommendation for OTC contracts is gas in the medium term currently the price range of imputed prices in the upper range of our expectations is located between 19: 23 to 20.02 euros / MWh.. In terms on sideways trend oil prices we forecast OTC spot prices for the fourth quarter 2010 between 17.00-20.00 euro / MWh. In the first quarter of 2011 are our expectations in the area from 19.00 to 21.00 euro / MWh. The below comparison between ACFA border crossing prices and monthly average price gives the impression of a hyper-powered gas market, which has not the same price formation mechanisms, such as those committed in the long term supply contracts. However, there are still some utilities which can go only about price-bound oil purchase prices in the consumer market, so that the margin between cons procurement and retail for other companies, which buy about the OTC gas market remains very lucrative. The LNG import prices of Europe’s part for Germany at $6.54 / MMBTU, in the UK at $6.50 / MMBTU and in southern Europe at 7.15 $/ MMBTU.

Europe’s gas stocks are 60 billion m3 as of 29 August. In the North West region with Germany, Great Britain, Belgium, France, Austria and the Netherlands, 40.5 billion m3 gas camped in the stores. In Italy amounted to the stocks at 12.5 billion m3. In the region of southern Spain and Portugal, the storage volume rose to around 7.0 billion m3. The European memory are filled at an average 84 percent. In the CF. the year stocks are up 26 percent. In technical analysis, the OTC spot prices (Day Ahead) in a sideways lie between the 60/90 day calculations. Until the beginning of the new gas year should arrive the spot price at 19 to 20 euros per MWh. GAS REVIEW / publication electronically or printed wholly or partially to forward spread, to make accessible to third parties to reproduce, process or translate, or to publish, in any other form is permitted only with prior approval. Zuwiderhandelungen are legally tracks.