UK GAS-Prices fall as Troll field increases production
LONDON, July 5 (Reuters) - British wholesale gas prices fell on Friday as increased supplies from Norway, following increased output from the Troll field which has been undergoing annual maintenance, led to an oversupplied market.
* Within-day gas price fell 0.6 pence to 26.80 pence per therm by 0735 GMT.
* Day-ahead gas price rose 0.3 pence to 27.20 p/therm.
* "This (day-ahead price) has got to come off, I feel. Troll is back and strong; nothing is tight in NBP anymore," said one gas trader.
* Flows along the Langeled pipeline from Norway rose 18 mcm boosted by production from Troll, one of the largest fields in Norway.
* Some 42 mcm of supplies were cut from Troll during maintenance and while output has been increased, some 11 mcm is still expected to be down until July 19, according to the latest GASSCO information.
* An unplanned outage at Nyhamma continued with impact expected to last well into next week.
* The system is oversupplied by 6.6 million cubic metres, with demand seen at 168.3 mcm and supply forecast at 174.9 mcm, National Grid data showed.
* Peak wind generation is forecast at 6.2 gigawatts for Friday, stronger than the 4.8 GW on Thursday although it is expected to drop off slightly by Saturday.
* Send-out from liquefied natural gas (LNG) terminals is seen steady at 13 mcm.
* Two LNG tankers are slated to discharge later next week but a third tanker may load from Milford Haven, reducing supplies.
* The British August contract fell 0.2 pence to 26.70 pence per therm while the Dutch month-ahead contract fell 0.14 euro to 10.38 euros per megawatt hours.
* The falls reflected the broader bearish fundamentals of high inventory levels and no let up in supplies.
* Day-ahead gas price at the Dutch TTF hub was yet to trade.
* Benchmark Dec-19 EU carbon contract was 0.08 euro lower at 25.93 euros a tonne. (Reporting by Sabina Zawadzki. Editing by Jane Merriman)