Register

Peak Oil is You


Donate Bitcoins ;-) or Paypal :-)


Page added on March 30, 2006

Bookmark and Share

U.K. Natural-Gas Prices Fall as New Fields in North Sea Start Production

Natural-gas prices for delivery in April declined in the U.K., Europe’s biggest consumer of the fuel, as two new North Sea fields are due to start sending gas to the mainland.

Gas for delivery in April at the National Balancing Point, the main U.K. trading hub, fell 2.2 percent to 47.9 pence a therm at 12 p.m. in London, according to broker Spectron Group Plc. The latest price equals $8.30 per million British thermal units. A therm is 100,000 British thermal units.

Britain started to import more of the fuel than it produces two years earlier than expected because of a decline in production in the North Sea.

BG Group Plc, the U.K.’s third-biggest oil and gas producer, said today that the Atlantic and Cromarty fields in the North Sea, which can supply 2 percent of Britain’s daily gas needs, will start pumping gas at the end of next month.

Bloomberg



Leave a Reply

Your email address will not be published. Required fields are marked *