UK GAS-Prices fall on news of Nord Stream 2 gas volumes

LONDON, Aug 19 (Reuters) - British and European gas prices
fell on Thursday morning on news that the Nord Stream 2 pipeline
will deliver 5.6 billion cubic metres of Russian natural gas
this year.

* UK gas for immediate delivery was fell by
7.50
pence to 109.75 pence per therm by 0942 GMT, while day-ahead gas
was 4.30 pence lower at 106.75 p/therm.

* The UK September contract fell by 5.00 pence
to
106.00 p/therm.

* At the Dutch TTF hub, the September price was
2.05
euro lower at 42.80 euros per megawatt hour, and all the curve
fell steeply.

* Gazprom has said Nord Stream 2 should be finished in late
August
and enter service this year. On Thursday it said the pipeline
would deliver 5.6 billion cubic metres of Russian gas this year.

* Prices had started to fall on Wednesday afternoon after a
data
error showed a spike in gas flows to the Nord Stream 2 entry
point at Lubmin II in northern Germany.

* The startup of Nord Stream 2 is eagerly anticipated by the
market, where record high prices have been sustained due to very
low storage levels, low LNG supply and Russia holding off
booking much additional capacity at auctions.

* "Russia was considered to be the only exporter with spare
production capacity, but the major unplanned processing facility
outage near Novy Urengoy this month, followed by a drop in
Gazprom export capacity bookings through September, shows that
even here supply is limited," said James Huckstepp, EMEA Gas
Analytics, S&P Global Platts.

* Also contributing to the fall in prices on Thursday were
higher
flows from Norway.

* Flows through the Langeled pipeline to Britain were 7
million
cubic metres (mcm) higher at 46 mcm, Refinitiv Eikon data
showed.

* Higher flows from the Oseberg field could be compensating
for
lower output from the Troll field which is undergoing an outage.

* The UK gas system was 13 mcm over-supplied, with demand
forecast
at 146 mcm and flows at 159 mcm/day, National Grid data showed.

* The benchmark Dec-21 EU carbon contract was down
by
1.34 euro at 55.79 euros a tonne.

* The benchmark Dec-21 British carbon contract was
0.69
pounds lower at 48.50 pounds a tonne.
(Reporting by Nina Chestney)