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NORWAY GAS-Flows to Britain drop sharply

Wednesday, 10 Oct 2012 | 4:00 AM ET

* Output from Nyhamna gas plant reduced by 35 mcm/day

* Flows to Britain more than halved from previous day

OSLO, Oct 10 (Reuters) - Norwegian gas exports to Europe fell on Wednesday morning as output from the Nyhamna gas plant has been reduced due to technical problems, resulting in a sharp drop in supplies to Britain, data from gas system operator Gassco showed.

Exports to Europe including Britain dropped by 38.5 million cubic metres (mcm) to 234 mcm per day by 0615 GMT compared with the 272.5 mcm daily average on Tuesday.

The export figures are based on gas fed into the system at a certain point in time and calculated to a daily average.

Supplies to Britain, Europe's most traded market plunged by 37.2 mcm to 27.4 mcm as flows through the Langeled pipeline dropped by 32.8 mcm to 7.3 mcm on Wednesday morning.

Power consumption ramp up at Royal Dutch Shell's

70

mcm Nyhamna plant which feeds the Langeled pipeline has been delayed for a day, until Thursday, the Nordic power exchange said.

Changes in power consumption at the plant indicate changes in gas production.

In a separate message earlier, Gassco said Nyhamna's output was to be reduced by 35 mcm per day, and the outage duration was unknown.

Combined flows to the Netherlands and Germany rose by 3.2 mcm to 129.6 mcm, while deliveries to Belgium were down by 3.8 mcm to 32.4 mcm.

Exports to France remained broadly stable at 44.6 mcm.

Volumes can change throughout the day as producers adjust the amount of gas they pump into the system.

Norway is the second-biggest pipeline gas supplier to Europe after Russia.

Spot price settlements at European gas trading hubs:

Gas hub Pvs trading session October 9 NBP 27.1/64.2 27.0/63.8 TTF 26.8 26.6 NCG 26.7 26.9 Gaspool 26.6 27.0 Zeebrugge 26.8 26.8 Peg Nord 26.8 26.9 Peg Sud 28.9 28.6 Oil-indexed price 37.36/87.12 37.36/87.12

NOTE: Prices are in euros per megawatt-hours, except for NBP and oil-indexed prices, which are also given in pence per therm. The oil-indexed price is a monthly estimate by Thomson Reuters Point Carbon.

(Reporting by Nerijus Adomaitis; Editing by Alison Birrane)

((nerijus.adomaitis@thomsonreuters.com)(+47 9027 6699)(Reuters Messaging: nerijus.adomaitis.thomsonreuters@reuters.net))

Keywords: NORWAY GAS/