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UK set up for global gas fight as giant storage site shuts

Britain is growing ever more reliant on LNG imports and pipeline fuel from Russia and Norway. Now the UK gas market must do without its biggest stabilizing force.

Photo: Dong Energy, PR
BY ANNA SHIRYAEVSKAYA & KELLY GILBLOM, BLOOMBERG

Already buffeted by political chaos at home and abroad, the UK gas market must now operate without its biggest stabilizing force: the giant Rough gas storage facility under the North Sea.

The planned permanent shutdown of the Centrica Plc site, able to meet 10 percent of peak demand in winter, means Britain is becoming even more reliant on imports of liquefied natural gas or pipeline fuel from Russia and Norway. That sets up the possibility that traders would have to outbid Japan, the world's biggest LNG buyer, and others to keep millions of homes warm.

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