British spot gas prices gain as flows expected to fall

* Prices gain but weather stays mild

* Demand 10 percent less than seasonal norm

LONDON, Oct (KOSDAQ: 039200.KQ - news) 2 (Reuters) - British wholesale gas prices rose slightly on Wednesday despite mild weather and plentiful supply from Norway, although maintenance at a continental European terminal could end Thursday, reducing flows.

Gas prices for next-day delivery were trading at 63.30 pence per therm at 0830 GMT, up 0.30 pence from Tuesday's close. Prices for within-day delivery were up 0.45 pence at 63.20 pence.

"LNG send-outs (volumes of liquefied natural gas pumped into Britain's gas system) remain in line with Tuesday's average, a gas supply company said in an email.

"Whereas storage injections and IUK exports (from Britain to Belgium) have marginally increased as they start taking advantage of the discount in spot to the near price curve and the growing difference between the NBP (UK gas contract) and mainland Europe, respectively."

Supplies through the Langeled pipeline, which transports Norwegian gas to Britain, remained high as gas continued to be rerouted from the continent to Britain because of maintenance at a French terminal at Dunkerque.

Around 53 million cubic metres of gas was pumped into Britain's gas system through the Langeled pipeline on Wednesday, but traders and analysts think that the end of maintenance at Dunkerque will mean flows will fall on Thursday.

Gas demand was expected to be 179.1 million cubic metres (mcm) and supplies forecast at 186.3 mcm on Wednesday, according to National Grid (LSE: NG.L - news) data, leaving the system 7 mcm long and giving owners of storage sites an opportunity to top up inventories.

Demand is around 10 percent less than seasonal norms as temperatures have remained mild.

Britain's storage sites were 87 percent full according to the most up-to-date figures published Tuesday, up 0.5 percent on the previous day.

Gas prices for delivery in November (Xetra: A0Z24E - news) rose to 67.90 pence per therm, up 0.20 pence from Tuesday's close.

Brent crude prices extended losses below $108 per barrel on Wednesday to near a seven-week low on signs of improving global supply and expectations that U.S. oil stockpiles are beginning to build.

In Britain's power market, prices for baseload (24 hours) delivery the next day fell to 46.60 pounds per megawatt-hour (MWh), down 0.40 pounds from Tuesday's close. ($1 = 0.6203 British pounds) (Reporting by John McGarrity; editing by Jason Neely)