Gas prices fell on Monday ahead of an expected inflow of extra gas from Norway later this week via the new Langeled pipeline.

Forward prices for winter 06 dropped 0.35 pence to 66.80 pence a therm, with the October contract down 0.85 pence at 40.50 pence and November down 0.95 pence at 60.80 pence.

Langeled, one of several new import schemes designed to offset dwindling UK North Sea production, was expected to send some gas to Easington terminal over the weekend.

It was not clear when Langeled gas would enter the UK's grid for supply to consumers. Terminal operator Centrica was not immediately available for comment.

It looks like Langeled will basically be line packing (building up pressure) this week, a UK based trader said.

Spot prices in the the country also fell. A predicted oversupply on the system forced within day down 1.8 pence to 30.00 pence, with day ahead at the same level.

One trader said grid data on gas flows appeared to show the Shearwater field was back online after a recent outage.

United kingdom