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European prices drop

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May 19 (LNGJ) – The UK benchmark natural gas price has dropped to its lowest level of the year to be at the equivalent of $1.40 per million British thermal units, around the same mark as US Marcellus shale gas. The Continental European benchmark, the Dutch Title Transfer Facility price, was also falling and was last at the equivalent of $1.55 per MMBtu.

   UK natural gas supply flows on May 19 amounted to 184.65 million cubic metres and current demand was 187.57 mcm, according to National Grid data. Supply flows at gas grid connections near the UK’s LNG terminals at Milford Haven in Wales and the Isle of Grain, southeast of London, were at 49.95 mcm for South Hook LNG and Dragon LNG and 3.00 mcm for the Grain LNG terminal.