UK GAS-Prices rise on low LNG supply, strong power demand

LONDON, June 25 (Reuters) - British wholesale gas prices
rose on Friday morning as weak supply from the country’s
liquefied natural gas terminals (LNG) and strong demand from the
power sector led to an undersupplied market.

* The day-ahead contract was up 0.40 pence at
81.00
p/therm by 0901 GMT.

* The weekend contract was up 1.00 p at 80.75
p/therm.

* Britain’s gas system was undersupplied, with demand
forecast at
121.6 million cubic metres (mcm) and flows at 116.5 mcm/day,
National Grid data showed.

* “Further potential delay on FTP (Forties pipeline) and an
external fuel complex rally could bring bullish risk to the
prompt contracts,” Refinitiv analysts said in a daily research
note.

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

* Analysts at Refinitiv forecast flows from Britain’s LNG
terminals at 27 mcm, down 4 mcm on the previous day.

* A drop in forecasts for wind power output also led to an
increase in demand for gas from power stations.

* Peak wind power generation is forecast at 6.4 gigawatts
(GW) on
Friday, falling to 3.5 GW on Tuesday, Elexon data showed.

* The day-ahead gas price at the Dutch TTF hub
was up
0.63 euro at 32.15 euros per megawatt hour.

* The benchmark Dec-21 EU carbon contract was up
0.51
euro at 55.59 euros per tonne.

* The benchmark Dec-21 British carbon contract was up 0.20 p
at
47.00 pounds per tonne..
(Reporting By Susanna Twidale; editing by Nina Chestney)