EUROPE GAS-Prices ease as Norwegian supplies ramp up

Sept 24 (Reuters) - British and European wholesale gas
prices fell for a third straight day on Friday morning as
Norwegian gas flows ramped up, alleviating some concerns over
tight supplies this winter.

* The British day-ahead contract was down 4.00
pence
at 166.00 p/therm by 0815 GMT.

* The UK October contract was down 2.40 pence
at
170.00 pence/therm.

* The October gas price at the Dutch TTF hub, a European
benchmark, was down 2.59 euros at 68.13 euros per
megawatt hours (MWh).

* Analysts said prices were being pushed lower by stronger
supply
from Norway.

* Norwegian flows to Europe stood at nearly 318 million
cubic
metres on Friday morning, up from 289 mcm/day on Thursday,
Refinitiv data showed.

* In turn, Britain's gas system opened long, with supply at
173
million cubic metres (mcm) per day and demand at around 140
mcm/day, National Grid data showed.

* "On the short end of the curve, increased supply from
Norway and
some very windy autumn weather in Germany has limited the need
for gas, but the low storage levels and the ongoing concerns
about Russia and the Nord Stream 2 pipeline continue to cause
some uncertainty. Nonetheless, the market appears to fall
further early Friday," said analysts at Energi Danmark in a
morning note.

* Power-for-gas demand was set to rise by 4 mcm on Saturday,
Refinitiv data showed.

* "UK wind power generation is expected to drop tomorrow,
although
higher and above normal wind speeds will return next week,"
Refinitiv analysts said.

* Peak wind power generation was forecast at 11.1 gigawatts
(GW)
on Friday dropping to 5 GW on Saturday, Elexon data showed.

* "TTF prices are firmly in the territory where economics
would
encourage the gas-to-liquids switch in the European power and
heating sectors," analysts at Energy Aspects said in a report.

* This switching price range is currently around 64–89
euros/MWh
for approximately 32 mcm/d of switching in Western Europe, they
added.

* "This is not much when considering that starting
inventories for
end-October will likely equate to 105 mcm/d less gas available
for winter delivery than the five-year average."

* The benchmark Dec-21 EU carbon contract was down
0.29
euro at 60.25 euros per tonne.

* The benchmark Dec-21 British carbon contract had
yet
to trade.
(Reporting by Nora Buli in Oslo and Marwa Rashad in London;
Editing by David Evans)