LONDON: British wholesale gas prices fell on Tuesday morning as a ramp up in imports from Norway left the system oversupplied.
* Within-day gas price down 1.50 pence at 29.50 pence per therm by 0820 GMT.
* Day-ahead gas price down 0.50 p at 30.00 p/therm.
* Traders said supply of gas had swelled because imports from Norway increased as the impact of outages at some Norwegian gas infrastructure eased.
* Gas system oversupplied by 19.2 million cubic meters (mcm), with demand forecast at 201.2 mcm and flows at 220.4 mcm/day, National Grid data showed.
* Imports from Norway through the Langeled pipeline were at around 44 mcm, up 14 mcm compared with the previous day.
* "Total Norwegian exports to UK are up by 13 mcm at 66 mcm as the impact from Troll and Asgard (gas fields) maintenance has reduced," analysts at Refinitiv said in a note.
* Further out on the curve prices also slipped.
* June contract down 0.55 p at 30.00 p/therm.
* Q3 2019 contract down 0.30 p at 33.10 p/therm
* Front-month gas price at the Dutch TTF hub down 0.11 euro at 12.77 euros per megawatt hour.
* Benchmark Dec-19 EU carbon contract down 0.18 euro at 25.02 euros per tonne.
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