“UK exposed to gas supply crunch”: FT.

October 29, 2012 Gas 

FT: “In just a few years LNG imports have become an increasingly important source of supply: last year it made up nearly half of all British gas imports. Four years ago it was just 2.25 per cent. Despite this leap, the Isle of Grain is not thronged with ships. So far this year it has run at an average of just 15 per cent capacity as LNG ships from countries such as Qatar, the world’s biggest exporter of LNG, have been lured elsewhere by higher prices – particularly in Asia. Government figures show that to the end of July, LNG imports into the UK had dropped to just 23 per cent of all gas imports. As the largest gas consumer in Europe, Britain is emerging as a testing ground for the continent’s ability to secure gas supplies. …. With many market experts as well as regulator Ofgem, predicting that the UK faces a supply crunch around 2015-16 as old coal-fired plants close down under European legislation, the timing could not be worse.”

Comments

Comments are closed.