Friday, 11 February 2011

UK spot gas prices jump as Ormen Lange shuts down

British gas prices surged after one of the North Sea's biggest production
platforms shut down on
Friday, slashing supply to Europe's biggest market.

Norway's Ormen Lange field was shut down on Friday morning after a technical
glitch, with operator Royal Dutch Shell unable to say when it might restart.

Flows of gas from the huge field through the Langeled pipeline dived from around
65 mcm/day at around 0910 GMT to around 53 mcm 30 minutes later, driving UK gas
prices for immediate delivery up about 3 percent from Thursday's levels GB2NB to
highs around 54 pence on Friday morning.

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