Sept 21 (Reuters) - European wholesale gas prices were
volatile on Tuesday, with some contracts easing and others
gaining, but the overall bullish picture ahead of the winter
season remained intact.
* The British within-day gas contract was down
7.00
pence at 182.00 p/therm by 0842 GMT.
* The day-ahead contract was down 3.00 pence at
180.00
p/therm.
* Analysts at Refinitiv maintained a sideways/bearish view
for
prompt contracts on lower demand from the power sector and
increased domestic gas production.
* They forecast gas for power demand at 41 million cubic
metres
(mcm) for Wednesday, 10 mcm lower than a previous estimate, due
to stronger wind power output.
* Peak wind power generation will rise from 6.4 gigawatt
(GW) on
Tuesday to 9.9 GW on Wednesday, according to Elexon data.
* The British October gas price was down 9.90 pence at
180.00
p/therm.
* The October gas price at the Dutch TTF hub, a European
benchmark, was up 1.40 euros at 75.00 euros per
megawatt hours (MWh).
* "The trend remains bullish for European gas prices and
additional increases are likely. However, after yesterday's
strong rise, profit taking by financial participants and
technical resistances could contribute to limit gains today,"
Engie Energyscan analysts said in a market update on their
website on Tuesday.
* Some gas contracts gained more than 10% on Monday after
Gazprom
booked only 31.4 million cubic metres (mcm) per day via the
Yamal-Europe pipeline for October and did not book additional
gas transit capacity via Ukraine to Europe in October.
* Without additional Russian supply, European buyers will
have to
compete fiercely with their Asian counterparts to attract the
needed LNG cargoes, Engie's analyst said.
* "How long the price spike persists will primarily be a
function
of the relative strength in Asian LNG demand and indications on
how cold the winter could be this year," Barclays analysts said
in a special report.
* Europe heads into the winter heating season with gas
storage
levels much below average.
* The benchmark Dec-21 EU carbon contract was down
0.48
euro at 60.20 euros per tonne.
* The benchmark Dec-21 British carbon contract was
down
0.39 pounds at 55.75 pounds per tonne.
(Reporting by Nora Buli in Oslo
Editing by Mark Potter)