UK GAS-Prices slip on ample supply

Nov 27 (Reuters) - British prompt gas prices fell on Friday due to an oversupplied transmission network as supplies from Norway and the Netherlands picked up.

Gas for Monday delivery fell 0.90 pence to 37 pence per therm by 0907 GMT, while gas for within-day delivery dropped 1.25 pence per therm, also at 37 pence per therm.

The system was oversupplied by 8.2 million cubic metres (mcm), with demand forecast at 258.7 mcm, National Grid (LSE: NG.L - news) data showed.

Imports from top supplier Norway were 12 mcm higher at 100 mcm following the end of an unplanned outage at the Kollsnes gas processing platform, which reduced capacity by 26.5 mcm on Thursday.

Dutch imports jumped to around 17 mcm/day from 5 mcm in the previous session, according to real-time flow data.

Milder temperatures have also curtailed heating demand across the UK as demand for gas-fired power generation dropped below Thursday levels, said Marcel Boonaert, head of trading and portfolio at Wingas UK.

Gas prices for December fell 0.25 pence to 37.35 pence/therm.

Britain's biggest liquefied natural gas (LNG) terminal at South Hook was pumping at continued high rates of around 46 mcm into the grid, data showed.

In the Netherlands the day-ahead gas price at the TTF hub was down 0.22 euros at 17.48 euros per megawatt hour.

In Europe's carbon market the benchmark EU Allowance (EUA) edged down 0.01 euro to 8.57 euros a tonne. (Reporting by Oleg Vukmanovic in Milan; Editing by Susan Fenton)