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UK GAS-Spot price dives over 10 percent on oversupply and new LNG

* Norwegian imports rise, Bacton Seal terminal to ramp up

* Supply creates comfortable outlook-trader

June 13 (Reuters) - British wholesale gas prices for instant delivery fell more than 10 percent on Monday due to new liquefied natural gas (LNG) shipments and higher Norwegian exports.

Gas for day-ahead delivery fell 10.14 percent by 0908 GMT to 32.35 pence per therm as supply exceeded demand by 20 million cubic metres of gas, according to National Grid (LSE: NG.L - news) data.

Gas for July delivery was down 0.43 pence at 32.30 p/therm.

National Grid data showed demand was forecast at 177.1 mcm and flows at 196.9 mcm on the back of rising Norwegian supply.

Domestic output was constrained by an outage affecting flows into the Bacton Seal terminal.

Total E&P UK, which on Sunday announced an unplanned offshore flow reduction of 9 mcm/day into Bacton Seal, said deliveries into the terminal will ramp-up over the course of the day.

"Increased confidence in supply dynamics for the coming weeks, in line with higher Norwegian flows and two LNG shipments now scheduled to arrive in the UK, have seen prompt prices open the session with marked reductions," said Marcel Boonaert, head of trading and portfolio at Wingas UK.

Britain is set to receive an Algerian LNG cargo at the Isle of Grain terminal on June 15, while the Aamira tanker from Qatar is due at South Hook on June 19.

Further along the curve, gas for winter delivery was 0.40 pence lower at 38.70 p/therm.

In the Netherlands, the day-ahead gas price at the TTF hub was down 0.20 euro at 13.65 euros per megawatt hour.

European front-year carbon allowances were down 0.07 euro at 5.89 euros a tonne.

(Reporting by Oleg Vukmanovic, editing by Louise Heavens)

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