LONDON: British and Dutch wholesale gas prices rose on Tuesday morning, as gas flows from Russia dipped and Moscow’s cuts in gas supply to Europe escalated with supplies to the Netherlands' GasTerra halted.

In the British gas market, the contract for immediate delivery had risen by 6 pence to 160 pence per therm by 0953 GMT while the contract for next day delivery rose by 14 pence to 164 pence per therm.

In the Dutch gas market, the benchmark front-month contract rose 4 euros to 90.75 euros/MWh. The July contract was up 4.5 euros at 94.20 euros/MWh.

Russian energy giant Gazprom said on Tuesday it has fully cut off gas supplies to Dutch gas trader GasTerra after it had failed to make payments for gas delivery.

Russian gas flows to Europe directly to Germany through the Nord Stream pipeline and via Ukraine fell on Tuesday morning, gas pipeline operator data showed.

“We take a bullish view today supported by a small reduction in Russian flows this morning both via Velke Kapusany (via Ukraine) and Nord Stream, possibly reflecting on the cut to the Netherlands,” analysts at Refinitiv said.

GasTerra said it would be able to find alternative supplies to compensate for the 2 billion cubic metres of gas it had contracted from Gazprom through to October and traders said the fact the Netherlands said it can cope without the gas, had limited the price reaction.

Higher gas flows from Norway to Britain had also curbed the impact.

Flows of Norwegian gas through the Langeled pipeline were nominated at 60 million cubic metres/day, up 5 mcm from the previous day.

In the European carbon market, the benchmark contract rose by 3 euros to 84.00 euros a tonne.

(Reporting By Susanna Twidale; Editing by Kirsten Donovan)