UK GAS-Prices edge lower as imports from Norway rise

LONDON, June 28 (Reuters) - British wholesale gas prices
edged lower on Monday morning as an increase in imports from
Norway and strong domestic supply left Britain's gas system
slightly oversupplied.

* The within-day contract was down 0.75 pence
at
81.50 p/therm by 0913 GMT.

* The day-ahead contract was down 0.40 p at
82.00
p/therm.

* Flows from Norway through the Langeled pipeline were at 27
million cubic metres (mcm) on Monday morning, up 8 mcm from the
previous day, Refinitiv Eikon data showed.

* Traders' attention has also turned to an auction to be
held on
Tuesday by the Ukrainian transmission system operator for
capacity at Sudzha on the Russian-Ukrainian border.

* If capacity on the pipeline is booked it signals more gas
will
be available.

* “If any of the 63 mcm/d offered capacity will be booked a
bearish move in prices is likely,” analysts at Refinitiv said in
a daily research note.

* Britain’s gas system was slightly oversupplied with demand
forecast at 132.1 mcm/day and flows at 133.4 mcm/day, National
Grid data showed.

* The day-ahead gas price at the Dutch TTF hub
was
down 0.10 euro at 32.00 euros per megawatt hour.

* The benchmark Dec-21 EU carbon contract was up
0.22
euro at 55.27 euros per tonne.

* The benchmark Dec-21 British carbon contract was flat at
46.60
pounds per tonne.
(Reporting by Susanna Twidale
Editing by Mark Potter)

National Grid