LONDON, March 22 (Reuters) - British wholesale gas prices declined on Wednesday morning on over-supply, while Dutch prices were mostly range-bound as strikes in France continue to affect liquefied natural gas (LNG) terminals and reduce nuclear power capacity.
The British contract for May was down 2.50 pence at 101.00 pence per therm by 1100 GMT, while the day-ahead price was 2.75 pence lower at 94.25 p/therm, according to Refinitiv Eikon data.
An over-supplied system and relatively healthy supply was mitigating colder temperature and lower wind forecasts for next week, a trader said.
The latest forecasts show temperatures in Britain and north-west Europe will decline from tomorrow until next week, while wind output in Britain is forecast to fall, which could increase gas-for-power demand.
The front-month contract at the Dutch TTF hub edged up by 0.95 euro to 40.45 euros per megawatt hour (MWh), while the May contract was down 0.58 euro at 41.92 euros/MWh.
Bullish sentiment could come from ongoing strikes in France and extended outages in Norway, said Refinitiv gas analyst Timothy Crump.
Strikes at French LNG terminals have been extended until March 27 at the three terminals operated by Engie's subsidiary Elengy.
French power capacity has also been reduced due to strike disruption at nuclear, thermal and hydropower plants.
Total Norwegian exports nominations are flat at 333 million cubic metres (mcm), with Continental flows flat at 258 mcm/day.
There are a number of ongoing outages in Norway as well as a planned shutdown of the Aasta Hansteen field on March 29.
However, total liquefied natural gas (LNG) send-out for north-west Europe today is expected higher at 2,184 gigawatt hours per day.
(Reporting by Nina Chestney)
National Grid (NG.)
Edf (EDF.PA)