@ GasMon
https://www.lngindustry.com/liquefactio ... ty-review/Reuters are reporting that Britain has rebuffed calls from the gas industry for an urgent review of the country’s gas storage capacity after a cold snap this month triggered warnings of supply shortages and gas prices spiked to their highest in at least a decade.
Operators of gas storage sites, industries reliant on gas and developers of new storage projects have been asking for an inquiry since November, following the closure of the Rough site that provided 70% of Britain’s gas storage capacity.
They met officials from the department for Business, Energy and Industrial Strategy (BEIS) on 16 March but the government declined to open an inquiry, saying market forces would ensure there was enough gas.
The government says it is up to the market to determine whether it makes sense to invest in new gas storage and if there are any supply shortages, prices will rise sufficiently to attract more gas from elsewhere.
“There is still a level of complacency in the government that despite recent events the best course of action is to just accept these price shocks,” said Clive Moffatt of consultancy Moffatt Associates, who attended the meeting and represents several storage developers and industry associations.******************
Interesting Times for EUROPE/UK
A look over the ocean to US
https://www.oilandgas360.com/weekly-gas ... -up-again/In total, the EIA reports natural gas stocks fell by 93 Bcf last week, dropping from 1,625 Bcf to 1,532 Bcf.
This is 31.9% below the 2,250 Bcf that was in storage at this point last year, and is 16.2% below the five-year average of 1,828 Bcf. This week’s storage draw was in line with expectations, as analysts predicted a draw of 97 Bcf.
Regional declines were concentrated in the East and Midwest region...
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The problem is the Jet stream anomaly triggered by massive north pole warming!
STAY WARM....