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UK GAS-Prices fall as market stays oversupplied

Reuters - UK Focus

June 6 (Reuters) - British wholesale gas prices fell on Thursday morning as the market remained oversupplied for a second day, due to strong Norwegian gas flows.

* Day-ahead gas down 0.60 pence at 27.60 pence per therm by 0809 GMT.

* Within-day gas down 0.20 pence at 27.90 p/therm.

* Norwegian flows oversupplied the market and helped prices ease, a gas trader said.

* Demand in the British gas system on Thursday was forecast at 191.6 million cubic metres (mcm) and supply at 206.2 mcm, National Grid data showed.

* Norwegian gas flows to Britain are seen at 91 mcm/day versus Wednesday's 95 mcm/day, declining slightly due to lower flows via the Langeled pipeline.

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* One liquefied natural gas (LNG) tanker is confirmed to arrive in Britain at the moment.

* Peak wind generation is seen at low levels on Thursday, at around 2.8 gigawatts (GW) out of a total metered capacity of around 12.1 GW, Elexon data shows. It is forecast to rise to 7.0 GW on Friday.

* Strong power production from wind turbines typically reduces demand for electricity from gas-fired power stations.

* The average daily temperature in Britain is expected to be 12.5 degrees Celsius on Thursday and 12.1 degrees on Friday.

* Further along the curve, the July contract fell 1.10 pence to 27.90 p/therm.

* The day-ahead gas price at the Dutch TTF hub was up 0.15 euro at 10.80 euros per megawatt hour.

* The benchmark Dec-19 EU carbon contract fell 0.18 euro to 24.07 euros per tonne. (Reporting by Lefteris Karagiannopoulos in Oslo; Editing by Dale Hudson)