UK GAS-Prices hit fresh multi-year highs on supply worries, low storage

June 30 (Reuters) - British wholesale gas prices firmed on
Wednesday morning to fresh multi-year highs, amid lower flows
from Norway, wider supply concerns and as storage levels remain
very low.

* The July contract gained 1.20 pence to 84.50
p/therm, a level not seen since 2008.

* The within-day contract was up 1.50 pence at
84.50
pence per therm by 0847 GMT, while the day-ahead contract
was up 2.00 pence at 85.00 p/therm, their highest
levels since March 2018.

* "Record low medium-range storage inventory might continue
supporting the front-end curve," analysts at Refinitiv said.

* Norwegian exports are nominated at 7 million cubic metres
(mcm)
a day lower due to maintenance at the Aasta Hansteen field,
they added.

* Liquefied natural gas (LNG) send-out is flat and gas-for-
power
demand is forecast to rise by 7 mcm to 58 mcm/day on Wednesday,
amid low wind generation, according to Refinitiv.

* Peak wind generation is forecast at 3.3 gigawatts (GW)
today and
2.4 GW tomorrow, out of total metered capacity of nearly 20 GW,
Elexon data showed.

* The gas system was around 2 mcm over-supplied on Wednesday
morning, National Grid data showed.

* The front-month gas price at the Dutch TTF
hub was
0.55 euro higher at 34.13 euros per megawatt hour, also a
13-year high.

* Very low storage levels, a tight Asian gas market amid hot
weather there and lack of additional Russian supplies created a
bullish market, a trader said.

* Russia's Gazprom did not booking any interruptible transit
capacity through Ukraine for July to offset lower Yamal and Nord
Stream pipeline volumes due to planned maintenance, Refinitiv's
analysts said.

* The benchmark Dec-21 EU carbon contract rose by
0.25
euro to 55.89 euros a tonne.

* The benchmark Dec-21 British carbon contract was
up
0.10 pounds at 46.90 pounds a tonne.
(Reporting by Nora Buli in Oslo; editing by Nina Chestney)

National Grid