April 29 - Dutch and British wholesale gas prices fell on Monday morning as demand-sapping warmer weather outweighed the impact of Norwegian outages while there was an easing in concern over wider supply risks that buoyed prices last week.
The benchmark front-month contract at the Dutch TTF hub was down 0.96 euros at 28.30 euros per megawatt hour (MWh) by 0810 GMT, LSEG data showed.
The June contract fell by 0.70 euros to 28.61 euros/MWh.
The Dutch day-ahead contract was down 0.80 euros
at 28.20 euros/MWh.
In the British market, the day-ahead contract was down 2.75 pence at 72 pence per therm while the within-day contract was down 2.5 pence at 72 p/therm.
The market has absorbed some of the risks priced in last week, one trader said.
"There was a step up (in risk) after the EU speculation on Russian LNG sanctions, which is receding in the absence of any fresh news," he added.
This allowed the focus to return to fundamental drivers such as milder weather, lower heating demand, ample storage and little change to deliveries of liquefied natural gas $(LNG)$, the trader said.
Europe is expected to have mostly dry and moderately warm weather near or above normal temperatures through the next 10 days at least, said LSEG meteorologist Georg Mueller.
Demand in northwest Europe was down 9% for Tuesday, with the drop more than offsetting the impact of lower Norwegian flows because of maintenance, LSEG analyst Timothy Crump wrote in a morning note.
Both the massive Troll gas field and processing plant Kollsnes started planned maintenance over the weekend, cutting 85 million cubic metres (mcm) per day of supply, Gassco data showed.
Meanwhile, Norway's Hammerfest LNG plant restarted production on Saturday after a gas leak last week.
Europe's gas storage sites are holding steady at close to record highs of about around 62% full, Gas Infrastructure Europe data shows.
In the European carbon market, the benchmark contract
fell by 1.36 euros to 65.56 euros a metric ton.
(Reporting by Nora Buli in Oslo Editing by David Goodman)
((Nora.Buli@thomsonreuters.com; (+47) 21 04 05 56; Reuters Messaging: nora.buli.thomsonreuters.com@reuters.net))
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