UK GAS-Prices rise due to undersupply, lower Norway flows

LONDON, Oct 4 (Reuters) - British wholesale gas prices rose on Friday morning as the system was undersupplied due to reduced Norwegian flows and injections into storage.

* Day-ahead gas rose by 2.75 pence to 33.75 p/therm by 0814 GMT, while the weekend contract was up 3.00 p at 33.00 p/therm.

* The November gas contract rose by 0.60 p to 43.50 p/therm.

* The system is undersupplied by 13 million cubic metres (mcm), with demand forecast at 192 mcm and flows at nearly 179 mcm/day, National Grid data shows.

* Flows from Norway continued to fall while plans to inject gas into storage, rather than send into the system for consumption, remained flat.

* There is also reduced send-out from the Isle of Grain liquefied natural gas (LNG) terminal, Refinitiv Eikon data showed.

* Meanwhile, production at the Rough field in Britain, which has been shut down for most of the summer, will return a month later than previously scheduled on Nov. 1.

* "The Rough field will be on standby to produce until further notice, due to prevailing gas market conditions," the operator said on Thursday.

* Despite Friday's spike in prices, low storage injection demand and high LNG supply are expected to weigh on prices for the rest of the month, consultancy Energy Aspects said.

* Norwegian flows may not ramp up as they usually do in early October because demand in Europe is muted; low prompt prices may discourage production from fields such as Troll and Oseberg, it said.

* "Unless the weather turns unusually cold, which is not the prediction of 15-day forecasts, stronger LNG supply year-on-year and scant storage injection demand will continue to leave the supply-demand balance loose, pushing prompt prices lower to encourage more power sector gas burn," Energy Aspects added.

* Contracts at the Dutch TTF hub also rose. The day-ahead was up 1.00 euro at 13.50 euros per megawatt hour (MWh).

* The Dutch month-ahead gas contract, a benchmark for LNG prices as well as European gas, was 0.25 euro higher at 16.40 euros/MWh.

* The benchmark Dec-19 EU carbon contract was 0.17 euro higher at 23.41 euros a tonne. (Reporting by Nina Chestney; editing by Sabina Zawadzki)