14.12.17 We've got gas for Christmas – who cares if it's Russian?

Posted on December 14, 2017
Archive : December 2017
Category : Energy News

It's a funny old game, international politics. Yesterday we were all too happy to turn the screws just that bit further on Russian sanctions and today we're turning on their gas taps instead, simply because they've got something we haven't: gas and plenty of it. A shutdown for maintenance of the UK's most important pipeline, due to the discovery of a crack, and in the middle of our freezing winter, has left us short – especially if the big freeze continues with its colder than average December temperatures. To add to the UK's problems there was also an explosion at a big processing plant in Austria which caused wholesale gas prices in Europe to rise by 50% in just one day as buyers scrambled to grab the dwindling supplies. The Morecambe gas field is currently only processing half of its usual supply and at the same time stoppages at Dutch and Norwegian operators, who also supply us with gas, have added to the pressure on our energy security. So, for the time being Mr Putin is our new best friend. Well it is Christmas and at Christmas...

Source: Financial Times and www.rt.com – to read the complete story please click here.