NORWAY GAS-Flows to European continent fall on rising Russia supplies

* Norwegian pipeline gas exports total 324 mcm/day

* Langeled flows to to Britain at 42 mcm/day

OSLO, March 6 (Reuters) - Norwegian exports of natural gas

to Europe fell on Friday as Russia increased supplies to the

continent, data from gas system operator Gassco showed.

Total (Swiss: FP.SW - news) pipeline flows from Norway to Europe were running at

324 mcm/day by 1100 GMT, off this winter's peak of 357 mcm hit

on Feb. 12.

"Russian flows to the north western Europe increased from

yesterday, reducing the need to import gas to the continent from

Britain and Norway," analysts at Thomson Reuters Point Carbon

said.

Norwegian gas flows to Britain inched up to 82 million cubic

metres (mcm) per day, but were 30 mcm below the levels seen a

week ago.

The following table shows Norwegian pipeline gas flows,

measured in mcm/day, compared with the previous session's

average:

Destination Real time Pvs business Change

day (mcm)

Britain 82 79 3

Germany & Netherlands 133 147 -14

France 54 55 -1

Belgium 43 43 0

Total 312 324 -12

NOTE: Real-time gas export figures are based on gas fed into the

system at a certain time and calculated as a daily average.

Levels can vary throughout the day as producers adjust the

amount of gas they export, according to changing nominations, or

orders, from customers.

Volumes for the previous business show delivered gas.

Following is a summary of spot price settlements at European

gas trading hubs:

Gas hub March 5 March 4

NBP (UK) 22.1/46.8 22.8/48.5

TTF (Netherlands) 21.9 22.4

NCG (Germany) 22.1 22.4

Gaspool (Germany) 21.8 22.4

Zeebrugge (Belgium) 21.4 22.3

Peg Nord (France) 22.4 23.0

Peg Sud (France) 22.9 23.1

Oil-indexed prices* 24.42/30.44 24.42/30.44

NOTE: Prices are in euros per megawatt-hour (MWh), except for

NBP (euros/MWh & p/th). The oil-indexed price for Russian gas is

an estimate by Thomson Reuters Point Carbon.

* The oil-indexed prices mentioned above for March are in

order: Point Carbon's best estimate for Russian gas, including

spot indexation and base price discounts, and for Russian

outright oil-indexed gas.

(Reporting by Nerijus Adomaitis; editing by David Clarke)