July 18, 2017 / 8:51 AM / 2 years ago

UK GAS-Prompt prices mixed with day-ahead up on undersupply

LONDON, July 18 (Reuters) - British prompt gas prices were mixed on Tuesday morning, with gas for immediate delivery down after gaining nearly three pence in the previous session and the day-ahead contract up due to undersupply. * Within-day gas price down by 0.40 pence at 36.00 pence per therm at 0832 GMT. * The within-day gained ground on Monday because of high exports to the continent and lower imports from Norway but traders said there was probably a price correction on Tuesday. * Day-ahead price up by 0.12 pence to 35.50 p/therm. * The gas system was still undersupplied on Tuesday by 12 million cubic metres (mcm), with demand forecast at around 193 mcm and flows at 181 mcm/day, National Grid data showed. * Undersupply is mainly due to reduced flows through the Langeled pipeline from Norway, which are at 27 mcm rather than the 45 mcm/day seen most of this month. * There are two outages in Norway, at the Asgard field and Kollsness gas processing plant, which have reduced supplies. * Operator Gassco said the Asgard outage, which started on Monday, would now last three days instead of 12-24 hours. * Exports to continental Europe through the InterconnectorUK are also still near maximum capacity at 56 mcm. * In the Dutch gas market, the day-ahead price at the TTF hub was up by 0.12 euro at 15.02 euros a megawatt hour. * Benchmark Dec-17 EU carbon contract up by 0.05 euro to 5.49 euros per tonne. * Thomson Reuters analyst view: here (Reporting by Nina Chestney)

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