However, there have been growing doubts from investors regarding the profitability of projects promoted by the UK for underground gas storage, leading to possible delays in some of the planned gas storage schemes that have been announced, thereby compromising the security of gas supply in the UK....
Natural gas consumption in the United Kingdom amounted to 63.5 billion cubic meters in 2023, down from some nearly 70.9 billion cubic meters in the prior year. Between 2003 and 2023, figures decreased by roughly 36.3 billion cubic meters, peaking at 102 billion cubic meters in 2004. ...
“A prolonged cold snap could quickly drain UK storage facilities, hence the need to price at a premium to the continent,” said Nick Campbell, a managing director at Inspired Plc. The UK futures’ premium is also being driven by the need to attract more LNG after arrivals to the country...
But it was UK spot prices that soared most, briefly topping $22/MMBtu — levels not seen since March 2006. An eight-hour unscheduled disruption to flows through the Interconnector UK (IUK) pipeline from Belgium on Mar. 22, coinciding with a drop in UK gas storage to only about 10%-...
24 January 2024 NCA Amber Alert: Financial Sanctions Evasion, Money Laundering & Cultural Property Trafficking Through the Art Storage Sector The National Crime Agency has issued an Amber Alert highlighting the sanctions evasion and money laundering risks presented to UK industries linked to the art s...
It also captures the greenhouse gas (GHG) emissions across the energy system, important given the potential for methane emissions associated with gas production and distribution. Finally, end use sectors which use gas, the carbon capture and storage (CCS) system, and hydrogen production all have ...
Many European nations have been engaged in a rush to source winter gas supplies via alternative means since the start of the Russia-Ukraine conflict, with volumes in gas storage reservoirs running well below historical levels. Trade deficit driven by fuel increases ...
Image:The price of natural gas soared last year as factors including poor storage and weak levels of wind power stoked demand That brings us to perhaps the best option to try to fill that 270 mmcmd gap: liquefied natural gas. The US is producing record amounts of LNG ...
Relatedly, the Department is forging ahead with a plan to blend hydrogen into Britain’s natural gas distribution networks, allowing up to a fifth of volumes to be hydrogen in certain circumstances. For the moment, though, this scheme won’t progress past further trials....
Natural gas European gas prices hit two-year high as cold weather boosts demand Countries have had to draw more on storage facilities due to Asian competition for LNG shipments Drax Group PLC Drax UK power station to receive more government subsidies ...