Thursday 6 February 2014

Outage at Norway’s gas plant limits flows to UK

Outage at Norway’s gas plant limits flows to UK

There has been limited gas flows into the UK today as a result of an unexpected outage in a processing facility in Norway.

That led to the UK gas system around 26 million cubic metres short this morning, according to the daily market report from npower.

The Kollsnes natural gas facility processes Norwegian gas from the Troll field for export to Britain and has a daily capacity of 147 million cubic metres.

The power system, however, remains “relatively comfortable”, with peak margins forecast at around 12GW today, Optimisation Desk Manager Ben Spry said.

He added Brent oil price is slightly higher, currently trading at around $106.50 (£65.30).

Mr Spry said there is plenty to keep an eye on today: “On the short term, look out for that short gas system and whether the storage will start to flow to balance our gas system."

He added: “On the curve, there is a lot of data out. We’ve got more employment data out of the US. We’ve got the ECB [European Central Bank] talking about what direction they’re going to go to stimulate the Eurozone economy but also the Bank of England announcing latest interest rates and whether they’re going to keep those at 0.5%.”

Written by

Bruna Pinhoni

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