I noticed on prevailing view that interruptible supply contracts were interrupted this morning for a couple of hours before re-instated. and this led to a surge in the pipeline pressure as supply exceeded demand. Price remains high at nearly 3p/KWh.
Reported at Oil Drum :
(Reuters) - ConocoPhillips on Wednesday said production was halted at its J-Block gas fields in the UK North Sea due to technical issues, adding that output should resume later in the day.
RalphW wrote:Spot gas price spiked the last few days to over 80p a therm.
Demand is estimated at 360 mcm today, higher than the weather would normally indicate.
Is there an issue with electricity generation, that more, less efficient gas plants are being brought back on line?
It is over 90 pence a therm at present, and the 7 day moving average, which is arguably more representative is close to 80 pence.
Demand remains high in the UK, and presumably elswhere in Europe due to the continueing cold weather.
"Installers and owners of emergency diesels must assume that they will have to run for a week or more"
The jet stream forecast isn't good either with a northerly airflow until next Friday when it turns southerly for a while before returning to northerlies again.
Looks like I will have to chop some more wood for this year let alone starting on next years supply.
Storage now down to about 12% and falling.
Short term storage about two thirds gone.
Weather expected to remain cold
Spot and 7 day rolling average prices still over 80 pence a therm.
Suprised that this is not more widely reported, though I suppose that everyone is looking at Cyprus.
"Installers and owners of emergency diesels must assume that they will have to run for a week or more"
I was thinking the same earlier today - you would think the storage being a week from empty would get at least a little coverage in the press. Maybe they're being pressured from above?
cubes wrote:I was thinking the same earlier today - you would think the storage being a week from empty would get at least a little coverage in the press. Maybe they're being pressured from above?
Yes; "Keep quiet about this and we'll go easy on you with the Leveson regulation."
It'll be absolutely fine and dandy so long as we have nice weather very soon. Trouble is, the forecast doesn't look so encouraging. Here's the next nine days which can be interpreted simply as green bit chilly, yellow bit warmer.
That's about a quarter of our current gas usage missing from the Bacton Interconnector... I hope it comes back soon, given that Didcot A shuts this afternoon as well (see blog above).
Bacton Interconnector flows both ways and in times of cold weather over Europe will take Norwegian gas via our grid to Belgium - if the price is right (or wrong)?
biffvernon wrote:Bacton Interconnector flows both ways and in times of cold weather over Europe will take Norwegian gas via our grid to Belgium - if the price is right (or wrong)?
Yes, but that's one quarter of today's much-needed gas supply GONE. Unless I'm misunderstanding the situation...
