EUROPE GAS-Prices stable on healthy supply, lower demand

LONDON, April 16 (Reuters) - Dutch and British wholesale gas prices were largelt stable on Wednesday morning due to adequate supply and lower demand.

The benchmark Dutch front-month contract TRNLTTFMc1 was up by 0.55 euro at 34.80 euros per megawatt hour (MWh) by 0853 GMT, while the June contract TRNLTTFMc2 was down 0.55 euro at 34.60 euros/MWh.

The British within-day contract was 0.10 pence lower at 82.90 pence per therm.

"Prices seem to be in an equilibrium zone that suits everyone (in Europe and in Asia) for the time being," said analysts at Engie EnergyScan.

A higher gas-for-power demand forecast due to lower wind speeds in north-west Europe is being offset by a lower demand for gas for heating.

Although average temperatures will fall by 3 degrees Celsius over the next few days they are still above normal levels, LSEG data showed.

Total Norwegian exports are slightly higher and liquefied natural gas send-out is flat.

Meanwhile in the United States, Venture Global LNG has begun commercial operations at its Calcasieu Pass plant in Louisiana, ending a more than a three-year commissioning process at the plant, the company said on Tuesday.

Europe's gas inventories are around 36% full, 42% lower than 2024 levels, according to Jefferies analysts.

"Getting to 80% and 90% storage utilization by November 1 will require an injection of 50 billion cubic metres (bcm) and 61 bcm respectively. Total gas injected last year was 42 bcm," they said.

In the European carbon market, the benchmark contract CFI2Zc1 was 1.02 euro higher at 67.21 euros per metric ton.