UK GAS-Prices ease on rising Russian supplies, but wider concerns remain

Aug 17 (Reuters) - British wholesale gas prices fell on
Tuesday, after strong gains the previous day, amid signs of
higher Russian supplies, although underlying bullish sentiment
remained in place.

* Gas for next day delivery fell by 0.75 pence
to
114.00 pence per therm by 0904 GMT.

* The September contract was 1.70 pence lower
at 117
p/therm.

* Gas volumes to be sent from Russia to northwest Europe via
Mallnow were higher in re-nominations from suppliers, indicating
a day-on-day rise and having a bearish impact, a trader said.

* Re-nominations at Mallnow stood at 452 gigawatt hours
(GWh) per
day, compared with live flows of 233 GWh/day on Tuesday morning,
said Katarzyna Piaskowska, gas analyst at Refinitiv.

* A fire at a condensate preparation plant curbed supplies
through
the Yamal-Europe pipeline, which connects to Mallnow.

* "Since Gazprom booked only very little firm transit
capacity via
Ukraine for September at yesterday’s auction, the market’s
expectation is that the accident will have an extended effect on
Russian supply," Piaskowska said.

* Gazprom booked just 0.65 million cubic metres (mcm) of 15
mcm/day offered at an auction on Monday.

* The UK gas system was around 15 million cubic metres (mcm)
oversupplied on Tuesday morning.

* However, lower Norwegian flows via the Langeled pipeline
from
Norway, new maintenance at the FLAGS pipeline system and a drop
in wind output were all bullish drivers, Refinitiv's Piaskowska
said.

* Limited supplies of liquefied natural gas (LNG) to Europe
and
Britain, as well as low storages, continued to add support as
well.

* The month-ahead gas price at the Dutch TTF
hub was
0.88 euros lower at 46.97 euros per megawatt hour, after hitting
a new all-time high of 48.15 euros per megawatt hour on Monday.

* The benchmark Dec-21 EU carbon contract was 0.55
euro
lower at 57.61 euros a tonne.

* The benchmark Dec-21 British carbon contract was
slow
to trade.
(Reporting by Nora Buli; Editing by Susan Fenton)