RTRS:UK gas dips on ample supply, diverted Asian LNG
* Seri Angkasa LNG tanker diverted to UK port
* Norwegian supply pressures gas prompt
LONDON Aug 29 (Reuters) - British wholesale gas prices fell on Wednesday due to an amply supplied transmission system as Norway boosted exports overnight and the UK was set to receive liquefied natural gas (LNG) diverted from Asia.
The day-ahead gas contract fell 0.70 pence to 55.80 pence in response to a system oversupplied by 18 million cubic metres/day of gas supply, although one trader said the gap was narrowing and predicted that prices would pare morning gains during the afternoon.
Point Carbon analysts said that bullish fundamentals including higher consumption and gas shortages earlier in the day failed to lift prices, as bearish outlooks dominated trade.
"UK Continental Shelf flows are up with significantly higher flows at St Fergus Mobil today and (Norwegian) Langeled flows are nominated much higher," they said.
North Sea output rose to 84 mcm/day from Tuesday's average of 79 mcm/day.
Norwegian flows to the UK have been affected by the maintenance and outage on the Norwegian Continental Shelf.
The Kollsnes gas processing plant entered a heavier phase of maintenance on 26 August with a loss in capacity of 45 mcm/day, versus a loss in capacity of 25 mcm/d between August 15 to 26, Point Carbon said.
Ongoing maintenance on other Norwegian gas fields from August 18 to September 7 resulted in a loss of 23 mcm/day in capacity.
The month-ahead gas contract fell 0.37 pence to 56.38 pence, pressured by incoming LNG shipments during the month.
LNG aboard the Seri Angkasa tanker initially destined for Malaysia was diverted towards the UK port of Milford Haven on Wednesday with an expected arrival date of September 14.
The cargo, which was loaded in Egypt's Idku export plant on August 7-8, was crossing Africa's southern-most tip when it changed course towards the UK, port data shows.
Gas demand was expected to be 167.4 mcm/day, almost 33 percent below the seasonal norm, according to National Grid data.
The UK's MetOffice said that it expected rain in the next two days, with maximum daytime temperatures around 20 degrees Celsius.
