UK GAS-Prompt falls on oversupply, but Norway cut, Ukraine eyed

* Oversupply knocks 1 pct off day-ahead

* Russia's Putin warns of civil war in Ukraine

* Norway output cut over next 2 days due to drilling

LONDON, April 16 (Reuters) - British gas prices fell on Wednesday as the forecast for supply exceeded demand, but analysts warned that Norwegian production cuts and the crisis in Ukraine could lift the market in the days ahead.

Day-ahead gas lost 0.50 pence or 1 percent to 52.10 pence per therm by 0850 GMT.

British gas supply was forecast at 201.9 million cubic metres (mcm) on Wednesday, compared with estimated demand of 190 mcm, according to the National Grid (LSE: NG.L - news) .

Temperatures in Britain were also predicted to be above seasonal norms on Thursday.

Prices along the curve fell, with gas for winter 2014 delivery off 0.8 percent at 65.00 pence/therm.

"The market is oversupplied ... It is the strongest of the drivers," analysts at Thomson Reuters Point Carbon said.

"However, (prices) may see support from lower Norwegian flows tomorrow, and the situation in the Ukraine remains an unpredictable factor with upside potential."

Tensions between Ukraine and gas exporter Russia have intensified in the past few days, prompting Russian President Vladimir Putin to warn of the risk of civil war in Ukraine.

Moscow has threatened to cut off gas supplies to Ukraine, a major transit route for Russian gas to Europe, but so far the flows have been stable.

In the Norwegian North Sea, a short drilling campaign on Thursday and Friday is expected to be accompanied by a cut in gas production by up to 24 mcm/day.

"Given spare capacity, actual impact is expected less than this but may still leave Langeled slightly reduced," the Point Carbon analysts said, referring to the pipeline that transports gas from Norway to Britain.

In Britain's power market, prices for baseload (24 hours) delivery on Thursday fell 1.45 pounds to 40.85 pounds per megawatt-hour on higher wind production.

GAS UK natural gas prices National Grid instant flows National Grid gas demand North Sea gas and power maintenance

POWER UK: baseload prices , peakload prices , outages FRANCE: baseload prices , peakload prices , outages, report GERMANY: baseload prices , peakload prices , outages, report CENTRAL EUROPE: report SWITZERLAND: outages, reservoir levels NORDIC (SES: MR7.SI - news) : report EU CARBON PRICES SPEEDGUIDE:

(Reporting by Michael Szabo; editing by Jane Baird)