UK GAS-Prices climb as lack of storage withdrawal leaves system short

Nov 30 (Reuters) - British wholesale gas prices rose on Monday due to an undersupplied network caused by a drop in Dutch imports and rising demand, with storage sites not expected to pump gas from reserves.

Gas for Monday delivery rose 0.85 pence to 37.85 pence per therm by 0852 GMT, while gas for day-ahead delivery rose 0.40 pence to 37.30 pence per therm.

The system was undersupplied by 25 million cubic metres (mcm), with demand forecast at 279.8 mcm, 21 mcm above Friday levels, National Grid (LSE: NG.L - news) data showed.

Imports from the Netherlands via the BBL pipeline were half Friday levels at 8 mcm, while UK Continental Shelf supplies were at 142 mcm, compared with 153 mcm last week, real-time flow data showed.

British storage sites were not expected to pump gas into the system on Monday, according to nomination data.

But the rise in spot prices may incentivise operators of those facilities to review their plans, especially as spot prices widen their premium over contracts further out, said Marcel Boonaert, head of trading and portfolio at Wingas UK.

Gas prices for December fell 0.20 pence to 37.40 pence/therm.

Britain's biggest liquefied natural gas (LNG) terminal at South Hook was pumping at continued high rates of around 48 mcm into the grid, data showed.

In the Netherlands the day-ahead gas price at the TTF hub was down 0.20 euros at 17.50 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 Louise Heeavens)