March 28, 2017 / 8:31 AM / 8 months ago

UK GAS-Within-day price rises on lower imports from Norway

LONDON, March 28 (Reuters) - The British within-day wholesale gas price rose on Tuesday morning as lower imports from Norway led to an undersupplied system. * Within-day contract up by 0.40 pence to 38.50 pence per therm at 0816 GMT. * Traders said lower imports from Norway had helped prices to edge higher. * "Whilst the reduction in Norwegian flows and higher generation demand due to lower wind output has provided some support to the prompt, we would expect this to be temporary given the continued onset of LNG and forecast warmer weather," said Nick Campbell, Risk Manager at Inspired Energy. * Imports from Norway through the Langeled pipeline were below 60 million cubic metres (mcm), down from over 70 mcm on Monday's supply. * Flows from Britain's Bacton Seal were also down ahead of maintenance work. * System undersupplied by 33.7 mcm, with demand forecast at 243 mcm, and flows at 209.3 mcm/day, National Grid data shows. * British day-ahead gas price flat at 38.00 p/therm. * Liquefied natural gas tanker Al Mafyar arrived at Britain's South Hook on Tuesday, while another tanker is due to arrive early next week. * April gas contract <TRGBNBPMJ7 > up by 0.30 pence to 38.30 p/therm, while the Summer 17 contract up by 0.25 pence to 38.30 p/therm. * Day-ahead gas price at the Dutch TTF hub flat at 14.73 euros per megawatt hour. * Benchmark Dec-17 EU carbon contract up by 0.06 euro to 4.69 euros per tonne. * Thomson Reuters analyst view: here (Reporting by Susanna Twidale; editing by Nina Chestney)

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