UK GAS-Day ahead price falls on corrective trading, oversupply

July 17 (Reuters) - British day-ahead gas price moved down slightly on Tuesday morning amid oversupply and in a move that traders say corrects the previous session's gains.

* Day-ahead gas fell by 0.30 pence at 57.00 pence per therm at 0907 GMT, while gas for immediate delivery has not yet traded

* "Yesterday's move (up) was slightly overdone in my opinion," said a British gas trader, referring to prompt price gains on Monday

* Prompt prices gained ground on Monday due to continued low wind output, concerns over a Norwegian oil and gas worker strike and other factors

* The British gas market was slightly oversupplied, with demand forecast at 182.5 million cubic metres and flows at 185.9 mcm/day, National Grid (LSE: NG.L - news) data showed

* Average daily temperatures in Britain are seen at about 17.4 degrees Celsius on Tuesday but are expected to rise to 17.7 C on Wednesday, Thomson Reuters Eikon data showed

* InterconnectorUK exports to continental Europe are 7 mcm higher compared to the previous day

* Gas supply from Norway to Britain fell to 75 million cubic metres (mcm) per day from 82 mcm/day the previous day, which just above 50 percent of the pipeline system's export capacity.

* Britain is expecting one liquefied natural gas (LNG) vessel to arrive on July 20 at Milford Haven

* Forward monthly contracts rose with August gas up 0.40 pence at 57.20 p/therm and September up 0.31 pence at 57.96 p/therm

* Q4 gas fell by 1.25 pence to 61.75 p/therm

* In the Dutch gas market, the day-ahead price at the TTF hub inched down by 0.05 euro to 22.00 euros per megawatt-hour

* Maintenance at the Nordstream gas pipeline is expected to start on Tuesday which will reduce direct supply of Russian gas to Germany by around 1,740 gigawatt hours per day

* "This will limit implied storage injections and lead to a substantially tighter market, given lagging Continental (IOB: 0LQ1.IL - news) gas inventory, low LNG send-out with few cargo offloads and robust gas-for-power demand," said Thomson Reuters (Dusseldorf: TOC.DU - news) gas analyst Katarzyna Piaskowska

* The benchmark Dec (Shanghai: 600875.SS - news) -18 EU carbon contract inched up by 0.03 euros to 15.96 euros a tonne. (Reporting by Lefteris Karagiannopoulos in Oslo and Nina Chestney)