Europe natural gas prices ease after the Nyhamna gas plant incident has been resolved

This morning, the gas market was shocked by news from the Norwegian gas processing plant Nyhamna which processes natural gas from the offshore Ormen Lange and Aasta Hansteen fields and accounts for 20% of gas exports to the UK. The National Guard and the police appeared on the spot and secured the area, while the plant personnel was evacuated. TTF gas prices rose temporarily by nearly 10% to EUR 175 / MWh, taking into account the recent failures of the energy infrastructure in Europe.

However, gas prices hold back gains in Europe following an initial police statement that pointed to a false bomb alarm. In addition, the company announced that the gas transfer remains unchanged.

NATGAS price barely reacted to recent headlines and continues to trade below local resistance at $6.63. Source: xStation5

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