June 24 (Reuters) - British wholesale gas prices rose on
Thursday morning, amid continued low supply from the country’s
liquefied natural gas terminals and low storage levels.
* The day-ahead contract was up 0.25 p at 80.25
p/therm by 0910 GMT, a fresh three-year high.
* The July contract was up 0.40 p at 77.40
p/therm.
* Low deliveries of liquefied natural gas (LNG), low storage
levels in Europe, strong gas-to-power demand and strong oil
prices all combined to form a bullish picture, a trader said.
* LNG sendout was flat at 27 million cubic metres (mcm) per
day,
with only one new cargo currently expected, Refinitiv data
showed.
* Britain’s gas system was under-supplied, with demand
forecast at
129.4 mcm and supply at 123.4 mcm/day, National Grid data
showed.
* Medium-range storage withdrawals were nominated at 9
mcm/day,
amid a low inventory level of 280 mcm, Refinitiv's analysts
said.
* Norwegian flows and UK production should adjust higher on
Friday, while gas-for-demand is forecast lower by 11 mcm/day or
more, but wind output was still below normal levels, they added.
* Peak wind power generation is forecast at 5.3 gigawatt
(GW) on
Thursday, and 5.7 GW on Friday, out of total metered capacity of
nearly 20 GW, Elexon data showed.
* The benchmark Dutch TTF front-month contract for July
was up 0.15 euro at 31.70 per megawatt hour.
* European gas storage levels are well below average at 45%,
compared to 78% this time last year, which was a bullish factor,
analysts at Energi Danmark said in a note.
* Re-stocking would support prices until winter, they added.
* The UK Q3 contract was up 1.75 pence at 77.50
p/therm.
* The benchmark Dec-21 EU carbon contract was down
0.37
euro at 55.04 euros per tonne.
* The benchmark Dec-21 British carbon contract was up 0.20 p
at
46.50 pounds per tonne.
(Reporting by Nora Buli in Oslo, editing by Nina Chestney)