Friday, 4 February 2011

U.K. Natural Gas Rises as Bad Weather Curbs Norwegian Exports

U.K. natural-gas contracts rose as exports from Norway’s two biggest plants were reduced because of bad weather and erratic power supplies.

“The processing plants at Kaarstoe and Kollsnes have had a loss in power supply due to bad weather conditions, and are now reduced,” Lisbet Kallevik, a spokeswoman for Bygnes, Norway- based Gassco AS, said today in an e-mail.

Exports from Kollsnes were reduced to about 50 million cubic meters a day at 11:30 a.m. local time, Kallevik said, adding that “the rate is changing all the time, since we are ramping up now.”

Norway is the biggest foreign gas supplier to the U.K. and the second-biggest exporter to Europe after Russia. Both Kollsnes and Kaarstoe send fuel via sub-sea pipelines to markets in mainland Europe as well as Britain.

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