LONDON, Aug 27 (Reuters) - British wholesale gas prices
dipped on Thursday morning as Norwegian supply was strong and
demand expected to fall as stronger wind is forecast, even
though upcoming outages will reduce flows.
* The day-ahead contract inched down by 0.05
pence to
24.75 pence per therm by 0903 GMT.
* Weekend gas contract was down 0.75 pence at
25.00
pence per therm.
* Flows through the Langeled pipeline from Norway are strong
at 44
mcm/day, although a capacity cut at the Troll field of 90 mcm is
scheduled on Aug. 29 and Langeled flows are expected to dop
then.
* Gas-for-power consumption is forecast at 61 mcm today but
higher
wind production tomorrow should curb gas-for-power demand,
Refinitiv analysts said.
* Peak wind generation has slumped to 1.9 gigawatts (GW)
after a
period of strong winds but is forecast to rise to 8.9 GW on
Friday, Elexon data shows.
* The day-ahead price opened higher this morning, mainly due
to
upcoming maintenance at the Forties Pipeline System which is due
to start tomorrow, traders said.
* The system was under-supplied by around 7 million cubic
metres
(mcm), with demand forecast at 168 mcm and flows at 159 mcm/day,
National Grid data showed.
* UK Continental Shelf production is reduced due to several
outages. There will be a shutdown of the Forties Pipeline System
tomorrow for two days, which will cut production by around 50
mcm/day.
* The September contract was down by 0.40 pence
at
24.60 p/therm.
* The day-ahead gas price at the Dutch TTF hub
was
down 0.12 euro at 8.68 euros per megawatt hour.
* The benchmark Dec-20 EU carbon contract was 0.42
euro
lower at 28.20 euros a tonne.
(Reporting by Nina Chestney)