Monday, 4 March 2013

UK gas hits five-year high as unplanned outages squeeze supply

Just when you thought that there would be no gas supply problems, as winter was over...(see my earlier post on this)

Norway's Nyhamna gas plant connected to Shell's giant Ormen Lange field in the North Sea, which primarily exports gas to Britain, had an outage on Saturday after stormy weather, with production still down by around 53 mcm/d on Monday. The capacity of the plant is 70 mcm/d.

"It's the Nyhamna outage, Ormen Lange's processing plant. With storage so low and Norway running 100 percent it's gone mental," said one British gas broker.

In addition to the Norwegian outage, flows through Britain's St. Fergus terminal were reduced by around 7 mcm/d on Monday, creating an extremely tight supply situation.

Read the full story at Reuters, and keep an eye on the situation here and here.


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