* Traders confident of ample supply
* Sanctions on Russian energy exports unlikely - analysts
LONDON, April 29 (Reuters) - British prompt gas prices declined on Tuesday, with traders confident of ample supplies and sanctions on Russian energy exports deemed unlikely.
Gas for delivery on Wednesday fell 0.55 pence to 48.05 pence per therm by 0735 GMT, while gas for immediate delivery was down 0.60 pence at 48.20 pence per therm.
Gas flows of around 198 million cubic metres (mcm) were slightly under forecast demand of around 200 mcm, National Grid data showed.
Two liquefied natural gas tankers are expected to arrive in Britain on Tuesday, which should boost supply.
“The downward shift looks to be continuing today, the balanced system and confidence in supplies seeing prompt contracts offered over 0.50 pence lower,” a gas trader said.
Further along the curve, gas for delivery in June was down 0.78 pence at 47.50 pence per therm. Gas for delivery in the third quarter was 0.65 pence lower at 49.65 pence per therm.
British gas prices could fall further due to healthy injection rates into storage, analysts at Energy Aspects said.
The situation in Ukraine is worsening as sanctions have been imposed by the United States and the European Union on Russian individuals but significant sanctions on Russian energy exports remain “highly unlikely”, they said in a research note.
“With little in the way of current rhetoric on sanctions suggesting that energy will be targeted in the near term, the market seems to have little reason to price these risks in heavily,” the analysts said.
“With supply outages still seemingly far away, events will have to materially worsen for the market to react to the upside,” they added.
GAS UK natural gas prices <0#TRGBNBP:> National Grid instant flows <0#NGRID-FLOW-RT> National Grid gas demand <0#NGRID-DSR-DEM> North Sea gas and power maintenance
POWER UK: baseload prices <0#TRGBB:>, peakload prices <0#TRGBP:>, outages FRANCE: baseload prices <0#TRFRB:>, peakload prices <0#TRFRP:>, outages, report GERMANY: baseload prices <0#TRDEB:>, peakload prices <0#TRDEP:>, outages, report CENTRAL EUROPE: report SWITZERLAND: outages, reservoir levels NORDIC: report EU CARBON PRICES SPEEDGUIDE: (Reporting by Nina Chestney; Editing by Dale Hudson)