UK GAS-Prices rise amid maintenance outages, spec buying

LONDON, June 3 (Reuters) - British wholesale gas prices rose
on Thursday morning, even though the system was well-supplied,
amid maintenance outages and speculative buying.

* The day-ahead contract rose by 2.10 pence to
64.20
pence per therm by 0821 GMT.

* The July contract was up 1.65 pence at 64.00
p/therm.

* A gas trader said speculative buying and maintenance at
the
Forties Pipeline System this month could driving prices higher,
but the system was well-supplied and demand is low.

* Demand is forecast to remain quite flat over the next few
days
as higher temperatures continue in Britain and Europe.

* UK production remains impacted by maintenance at the
Forties
pipeline system and an outage at Barrow North has been extended.

* The InterconnectorUK is also scheduled to be on
maintenance
until June 16.

* But liquefied natural gas cargoes on the way to Britain in
the
next five days should ensure solid send-out and help keep the
system well-supplied if Norwegian flows through Langeled
pipeline remain at current levels, Refinitiv gas analysts Wayne
Bryan said.

* The system was 6 million cubic metres (mcm) over-supplied
with
demand forecast at 148 mcm and supply at 154 mcm/day, National
Grid data showed.

* Peak wind generation is forecast to drop to 3.8 gigawatts
(GW)
on Friday from 6 GW today, Elexon data showed.

* Lower wind output typically increases demand from gas
plants.

* The Dutch July price at the TTF hub was 0.33
euro
higher at 26.13 euros per megawatt hour.

* The benchmark Dec-21 EU carbon contract was 0.64
euro
higher at 52.04 euros a tonne.

* The UK equivalent carbon contract closed at
46.60
pounds per tonne last night.
(Reporting by Nina Chestney)