UK GAS-Prices rise on low LNG supply, maintenance

LONDON, June 23 (Reuters) - British wholesale gas prices
rose on Wednesday morning as a drop in supply from the country’s
liquefied natural gas terminals and ongoing maintenance led to
an undersupplied system.

* The within-day contract was up 0.75 pence at
78.50
p/therm by 0931 GMT.

* The day-ahead contract was up 0.30 p at 78.50
p/therm.

* “The extensions of FPS (Forties pipeline system)
maintenance in
the UK and several Norwegian maintenance added to the bullish
concerns," analysts at Refinitiv said in a daily research note.

* Flows from Norway through the Langeled pipeline were at 21
million cubic metres (mcm) on Wednesday morning, down 2 mcm from
the previous day and compared with full capacity over 70 mcm.

* Strong gas prices in Asia have led to a slow down of LNG
tankers
to Europe in recent weeks.

* Analysts at Refinitiv forecast flows from Britain’s LNG
terminals at 28 mcm, down 6 mcm on the previous day.

* Britain’s gas system was under-supplied, with demand
forecast at
139.1 mcm and flows at 130.3 mcm/day, National Grid data showed.

* The July contract was up 0.30 p at 75.30
p/therm.

* The day-ahead gas price at the Dutch TTF hub
was up
0.35 euro at 31.05 per megawatt hour.

* The benchmark Dec-21 EU carbon contract was up
0.25
euro at 53.66 euros per tonne.

* The benchmark Dec-21 British carbon contract was up 0.45 p
at
45.75 pounds per tonne.
(Reporting By Susanna Twidale; editing by Nina Chestney)