LONDON, June 28 (Reuters) - Dutch wholesale gas prices fell
on Tuesday morning, with the easing of some concerns over
Russian supply as supplies remained stable, whereas British gas
prices rose in response to forecasts for higher demand from
The benchmark Dutch wholesale gas contract for July delivery
was down 3.35 euros at 126.50 euros per megawatt
hour (MWh) by 0815 GMT, while the August contract
fell by 5.50 euros to 126.50 euros/MWh.
Europe is "still receiving lots of gas and Turkstream
pipeline resumed flows," a European gas trader said. "Bearish
outlook will likely remain if no surprises show up."
Russian gas flows from Serbia into Hungary have resumed
after maintenance on the Turkstream pipeline. Flows of Russian
gas to Europe via the Nord Stream 1 pipeline and through Ukraine
were steady early on Tuesday.
The European Union's energy chief on Monday urged countries
to update contingency plans to cope with supply shocks and
switch to other fuels wherever possible to conserve gas, in
preparation for a possible "serious disruption" from Russia.
Russian gas producer Gazprom said earlier this
month that capacity through the Nord Stream 1 pipeline, sending
gas directly from Russia to Germany would be cut to just 40% due
to the delayed return of equipment being serviced by Germany's
Siemens Energy in Canada.
The pipeline will also undergo regular annual maintenance
from July 11 to 21, sparking concerns about whether flows will
restart when maintenance ends.
The British within-day contract rose by 5 pence
to 150 pence per therm, while the day-ahead contract
was 13 pence higher at 155 p/therm.
Refinitiv analysts said a forecast for stronger gas for
electricity generation was an important bullish driver for
day-ahead prices on Tuesday.
Gas for electricity is seen higher by 20 million cubic
meters (mcm) at 58 mcm for the day ahead.
In the European carbon market, the benchmark contract
edged down by 0.54 euro to 84.54 euros a tonne.
(Reporting By Marwa Rashad; editing by Bradley Perrett)