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Prices mixed amid lower Norwegian supply, high inventories



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LONDON, Oct 17 (Reuters) -Dutch and British wholesale prices were mixed on Thursday morning as maintenance curbed supply from Norway but high storage levels weighed on the market.

The benchmark front-month contract at the Dutch TTF hub TRNLTTFMc1 edged down 0.07 euro at 39.43 euros per megawatt hour (MWh), or $12.54/mmbtu, by 0818 GMT, LSEG data showed.

In the British market the front-month TRGBNBPMc1 contract gained 0.84 pence at 98.64 pence per therm.

The British day-ahead contract TRGBNBPD1 slipped 0.63 pence at 94.50 p/therm.

"TTF prices traded again in a very narrow range yesterday, and it is still the case this morning. This confirms the current wait-and-see position of the market," analysts at Engie EnergyScan said in daily market report.

Total Norwegian exports are expected down 17 million cubic metres (mcm) at 309 mcm due to maintenance, LSEG data showed.

This is likely to be offset by an increase in send out from liquefied natural gas (LNG) terminals, LSEG analysts said.

"If the maintenance ends today as per the (market message), the flows should be back already tomorrow. In France, LNG sendout has stepped up to cover for lost Norwegian supply and is expected to stay at above 1000 gigawatt hours/day level," LSEG analyst Saku Jussila said.

Europe's gas stores are currently 95% full, data from Gas Infrastructure Europe showed.

"EU Gas storage appears to have reached its limit as it now struggles to report values over the 95% marker," consultancy Auxilione said.

In the European carbon market CFI2Zc1, the benchmark contract edged up 0.30 euro to 63.33 euros a metric ton.


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Reporting By Susanna Twidale; Editing by Rashmi Aich

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