UK Energy Prices Spike on North Sea Pipeline Casualty
British power and natural gas prices spiked on Monday afternoon, after a shutdown of the Forties oil and gas pipeline in the North Sea exacerbated ongoing supply outages and already high demand due to colder-than-normal weather. Wholesale gas for…
Centrica to Raise Morecambe Bay Gas Production
British utility Centrica will spend 60 million pounds ($77 million) to unlock an extra natural gas reserves from fields under the East Irish Sea, it said on Wednesday, helping to ease a potential shortage next winter. The project to produce the…
Castor Gas Storage Site Will Not Reopen after Quakes
Spain will not reopen the Castor underwater gas storage facility which was shut in 2014 following minor earthquakes in the area, after a study showed tremors could return if it resumed operations, the government said on Wednesday. Meant to store almost a third of Spain's daily gas consumption…
Partial Shutdown at North Sea Platform, Storage Outage Drive Up Prices
British wholesale gas prices rose on Monday as a partial shutdown of the Elgin-Franklin platform in the North Sea and an extended outage at a gas storage facility tightened supplies, traders said. The day-ahead contract rose by 1.65 pence to 53.00 pence per therm by 1137 GMT…
UK Gas Prices Slip on Higher Supply on Norway
British wholesale natural gas prices declined on Tuesday on healthy supply and lower demand. Gas for within-day delivery fell 0.85 pence to 30.10 pence per therm at 0916 GMT from the previous settlement, day-ahead gas slipped 0.08 pence to 30.27 pence per therm.
British Watchdog Reviews Centrica Gas Storage Obligations
Britain's competition watchdog on Tuesday launched a review of the storage capacity that the Rough gas facility operated by Centrica is obliged to sell after problems at the site. The Competition and Markets Authority (CMA) review started on Tuesday…
Serbia to Double Underground Gas Storage Capacity
Serbia's sole underground gas storage site, majority owned by Russia's Gazprom Neft, will be expanded to store 1 billion cubic metres of gas, one third of the country's annual gas needs, the CEO of Serbia's gas utility said on Thursday. The Banatski…
UK Gas: Oversupply, Weak Crude Pricing Drags
Within-day gas drops 1.68 percent; forward gas contracts weighed down by weak crude. British gas prices fell on Monday due to an oversupplied network on rising domestic and Norwegian deliveries, while weak crude oil prices dragged forward contracts lower.
Britain's Gas Storage Cuts Heighten Risks for Winter
Britain's available natural gas storage capacity will fall to its lowest level in almost a decade this summer, increasing the system's reliance on supply from the continent and the risk of price spikes next winter. Utility Centrica on Thursday idled…
Lithuanian Energy Group Calls for Rule Change on LNG Imports
Lithuania's state-owned energy group Lietuvos Energija said on Monday national rules had to be changed to allow it to sell some liquefied natural gas (LNG) cargoes it had contracted from Norway's Statoil in the global market as domestic demand falls.
Potential Well Integrity Issue at UK Gas Storage Site
Centrica Storage Ltd (CSL) said on Friday that it had identified a potential issue with well integrity that could affect all wells at Britain's biggest gas storage site, Rough. The business had said this week that the amount of stock in the Rough…
Latvia's Gas Utility Sales Volumes Fall in 2014
Latvia's gas utility Latvijas Gaze sold 10.9 percent less natural gas imported from Russia in 2014 than a year before, the company said on Wednesday. Sales fell to 1.3 billion cubic metres (bcm) due to warmer weather and as more gas was switched for woodchips for heating…
Scottish Power, Egdon Give Go-Ahead to UK Shale Gas Project
Scottish Power, owned by Spain's Iberdrola, and Egdon Resources have decided to move ahead with a joint project to explore and develop shale gas in Britain, after seismic data showed the potential for reserves. Britain is counting on the development…
Latvian Logistics May Slow Baltic Gas Market
The Baltic states' ambitions to replace Russian pipeline gas with liquefied natural gas and create a tradable market are unlikely to come to fruition until 2017 or later because of restricted access to the region's sole gas storage site. Lithuania…
UK Gas Storage Site in Unplanned Outage
Britain's Rough gas storage facility began an unplanned injection outage on Friday morning which could last up to two weeks, operator Centrica said in a statement. It will reduce injection capacity by 9 million cubic meters a day, Centrica said.
Unplanned Outage at Aldbrough Gas Storage Site to Lower Capacity
Britain's Aldbrough gas storage site in east Yorkshire has suffered an unplanned outage which will reduce capacity until October 15, operator SSE said on Tuesday. It started at 1530 hours local time (1430 GMT) and is expected to last until 1800 hours on October 15, SSE said on its website.
Latvia Plans to Boost Gas Storage Capacity
Latvia plans to increase capacity at the Incukalns underground gas storage site, the only gas storage in the Baltic states, to 2.8 billion cubic metres (bcm) by 2025, gas utility Latvijas Gaze said on Friday. The Incukalns site currently holds up to 2.3 bcm of gas…
