Page 110 - Demo

Wednesday, September 3, 2025GAS (p/therm) MONTUEVAR D-1 VAR W-1AVG.MAXMIN 1/92/9FROM THE BEGINNING OF THIS YEARNBP SPOT79.25 78.85-0.4-4.494.92145.3075.10NBP OCT2578.56 78.01-0.55-5.0695.88134.3276.54NBP NOV2583.52 83.33-0.19-3.95100.38133.5282.72NBP DEC2587.18 86.97-0.21-3.81102.45135.0086.39NBP JAN2688.63 88.47-0.16-3.47102.80134.3987.46NBP FEB2688.73 88.62-0.11-3.22102.23132.9487.38NBP MAR2684.73 84.63-0.1-2.9198.36128.7583.34NBP APR2680.79 80.74-0.05-1.7289.69112.7178.38NBP MAY2677.64 77.690.05-1.6885.06106.2274.74NBP JUN2676.49 76.540.05-1.3282.99104.4471.89NBP JUL2676.13 76.200.07-1.3282.91104.0172.46NBP AUG2677.19 77.410.22-1.1383.62104.4273.26NBP SEP2678.66 78.710.05-1.7384.51104.7973.41NBP Q4 2583.08 82.76-0.32-4.2899.56133.9981.96NBP Q1 2687.32 87.19-0.13-3.2101.09132.0086.02NBP Q2 2678.30 78.320.02-1.5785.91107.6475.00NBP Q3 2677.31 77.430.12-1.3983.67104.4073.04NBP WIN202585.18 84.95-0.23-3.75100.32133.0083.97NBP SUM202677.80 77.870.07-1.4884.78106.0074.01NBP WIN202685.42 85.530.11-1.0790.00104.6180.91British spot gas price slipped by 0.5% to 78.85 p/therm on Tuesday, as softergas-for-power demand and stable fundamentals outweighed reducedNorwegian flows from maintenance.Further along the curve, the Winter 2025 delivery contract edged 0.3% lower at84.95 p/therm, pressured by Russia’s Arctic 2 LNG exports and improvedsupply prospects, with the TAP pipeline set to expand capacity from 2026 anddouble to 20 bcm by 2027.