July 16, 2012 / 8:33 AM / in 5 years

NORWAY GAS-Flows to Britain continue to rise

* Flows via Langeled pipeline up to 61 mcm/d
    * Supplies to continental Europe fall

    OSLO, July 16 (Reuters) - Norwegian gas supplies to Britain
rose between Friday and Monday morning, while flows to
continental Europe fell, data from Norway's gas system operator
showed.
    Norway is Europe's second-biggest natural gas supplier after
Russia.
    Norwegian gas flows to Europe rose overall to 302 million
cubic metres (mcm) per day at 0700 GMT, up 10.2 mcm from
Friday's average, with the majority of the increased flows sent
to Britain.
    Total volumes to Britain from Norway reached 86.2 mcm, up
from 70.8 mcm on Friday.
    Flows to the Langeled pipeline were up to 61.1 mcm from
Friday's average of 45.6 mcm.
    Analysts at Point Carbon said the increase to Britain could
be the result of restarted output from the Oseberg oil and gas
field in the North Sea.
    Exports to continental Europe fell to 216 mcm from 221 mcm
on Friday.
    Flows to Germany and the Netherlands fell by 4 mcm to 143.4
mcm, and supplies to Belgium were also down by 2.6 mcm to 32.3
mcm.
    Exports to France were up by 1.5 mcm to 40.2 mcm.    
    Maintenance of several Norwegian gas fields is expected to
take place between July 23 and August 10 with a total loss in
capacity of 25 mcm, but no details on which fields will be
affected has been published. 
    The last spot price settlements on July 13:
    NBP:        55.8 p/th (24.2 euros per MWh)
    NCG             24.5 euros MWh
    TTF:        24.6 euros/MWh
    Zeebrugge:     24.5 euros/MWh
    Gaspool:         24.5 euros/MWh
    Peg Nord:     24.9 euros/MWh
    Peg Sud:         28.8 euros/MWh
    Point Carbon estimated oil-indexed gas price as of July 1 to
be 87.8 pence per therm (37.1 euros per MWh).

 (Reporting by Nerijus Adomaitis; Editing by Alison Birrane)

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