EUROPE GAS-Prices continue downward trend on mild weather forecast

LONDON, Dec 6 (Reuters) - European and British wholesale gas
prices continued their downward trend on Monday morning on
milder weather forecasts, lower demand for heating and high
Liquefied Natural Gas (LNG) send out.

* The British gas contract for same day delivery
was
down 9.50 pence at 2.24 pounds per therm by 1021 GMT.

* The Dutch day-ahead contract fell 0.70 euros
to
88.50 euros per megawatt hour (MWh).

* The benchmark Dutch front-month contract was
down
1.25 euros at 88.30 euros/MWh.

* "Mild weather is the main reason behind the declines
today," a
gas trader said.

* "Currently it appears that the continent will show a trend
of
rising pressure after mid-December which would mean rather calm
and dry weather but the north could remain more active,"
Refinitiv meteorologist Georg Mueller said.

* Traders said that market fundamentals remain unchanged
given low
stock levels and concern over Russian gas exports.

* Russian natural gas supplies to Germany through the
Yamal-Europe
pipeline have been largely stable over the weekend and in the
early hours of Monday, data from German network operator Gascade
showed.

* Russian gas giant Gazprom has no plans for auctions of
spot gas
sales on its Electronic Sales Platform (ESP) this week, Gazprom
Export said on Monday.

* "The European gas system is at risk of shortage this
winter if
Russian flows fail to ramp-up beyond long-term contracts,"
Engie's EnergyScan said in a report.

* In other markets, the European benchmark December 2021 EUA
contract was up 1.63 euros to 79.88 euros/tonne.
(Reporting by Marwa Rashad; Editing by Susanna Twidale)

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