Wednesday, 16 March 2011

Latest News: Gas Prices Rise with Power Shortages in Japan

Yes you read it right, power shortages in Japan made UK gas prices rise four percent yesterday. In total 10 nuclear plants are out of action in Japan which increases the likelihood of LNG tankers being diverted away from the UK to Japan.

 “The severity of the situation is heightened by the possibility that the injection of seawater for emergency cooling of several of the reactors affected by the earthquake could require the scrapping of those reactors, so resulting in a permanent loss of some of the nuclear capacity already down,” Deutsche Bank analysts said in a note on Tuesday.

No comments:

Post a Comment