Thursday, 24 May 2012

UK gas system remains undersupplied on Troll outage

Britain's gas market remained tight on Thursday and prices remained firm as pipeline supplies from Norway were still reduced following a Norwegian gas field outage earlier this week.

National Grid data showed that Norwegian gas flows via the Langeled pipeline was pumping just above 30 million cubic metres per day (mcm/day) to Britain on Thursday morning after Statoil suspended production at Norway's biggest gas field at 1859 GMT on Tuesday.

Langeled is Britain's main sub-sea gas import route and has a capacity of 70 mcm/day.

Although daily gas demand in Britain was set to be only around 192.6 mcm on Thursday, over a quarter below the seasonal norm, the system was expected to be undersupplied by 17.8 mcm, according to National Grid, implying the need for storage withdrawals.

Britain's gas storage sites were filled to an average of 56.2 percent on Wednesday, according to Gas Infrastructure Europe, some 4 percent above the European average level.

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