Tuesday, 5 July 2011

UK gas up on LNG supply drop, power rises on outages

British wholesale gas prices rose on Monday afternoon after a drop in supply from a liquefied natural gas (LNG) terminal left the system short.
Within-day gas prices gained 0.60 pence to 56.35 pence per therm at 1635 GMT, while Tuesday gas rose 0.35 pence to 56.25 pence, after prices had fallen slightly on Monday morning.
A drop in flows from the Isle of Grain terminal off the west coast caused a shortfall in supply to the market, which was around 2 million cubic metres short on Monday afternoon,National Grid data showed.
A ramp-up in gas imports from Norway via the Langeled pipeline failed to make up for the shortfall.        http://af.reuters.com/article/energyOilNews/idAFL6E7I424E20110704

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