This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-36604520
The article has changed 5 times. There is an RSS feed of changes available.
| Version 2 | Version 3 |
|---|---|
| Shutdown at UK's largest gas facility | Shutdown at UK's largest gas facility |
| (35 minutes later) | |
| Wholesale gas prices have been volatile following news that the UK's largest gas storage facility is being shut down for 42 days. | Wholesale gas prices have been volatile following news that the UK's largest gas storage facility is being shut down for 42 days. |
| Gas prices for the coming winter surged more than 8% on Wednesday after Centrica Storage said its Rough facility would close until 3 August. | Gas prices for the coming winter surged more than 8% on Wednesday after Centrica Storage said its Rough facility would close until 3 August. |
| The plant accounts for 72% of the country's gas storage capacity, but has been affected by safety issues. | The plant accounts for 72% of the country's gas storage capacity, but has been affected by safety issues. |
| The move could push the UK's gas stocks to record lows this winter. | The move could push the UK's gas stocks to record lows this winter. |
| There have been problems at the Rough facility since March 2015, when Centrica imposed restrictions on storage levels because of an issue with its wells. | There have been problems at the Rough facility since March 2015, when Centrica imposed restrictions on storage levels because of an issue with its wells. |
| While testing the wells involved, Centrica said, it had "identified an additional issue" on one of them. | While testing the wells involved, Centrica said, it had "identified an additional issue" on one of them. |
| 'Vital facility' | |
| Gas market specialist Niall Trimble of the Energy Contract Company said the Rough facility was a key part of the UK's gas storage network. | |
| "After all these years, it's still the majority of our storage," he said | |
| "But it's old. These things have a finite lifetime without major refurbishment. Things start to break down. | |
| "There's the immediate problem that we might not be able to fill it in time for winter. I suspect we might not be able to fill it completely. | |
| "But longer term, this raises questions about how long this vital storage facility can keep operating." | |
| Mr Trimble said that if Europe had to endure a cold winter, it might be difficult for the UK to bolster its supplies with gas from the continent. | |
| "If stocks look tight, we can try to source more LNG [liquefied natural gas] shipments. But they can take several weeks to arrive," he added. |