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The UK will be able to cut off gas to Europe in the event of a crisis. Friends, friends, friends a….

The UK is considering shutting off gas supplies through two interconnectors to mainland Europe as part of a contingency plan that would trigger in the event of severe gas shortages in Britain, the Financial Times reported Wednesday.

Under the UK's contingency plan to address the gas shortage, National Grid could stop sending gas through the two pipelines to Europe, one to Belgium and the other to the Netherlands. During the summer, the UK typically sends gas to Europe through pipelines, while it imports gas through the same pipelines during the winter.

The idea of ​​cutting off supplies to Europe would be one of the first stages of a four-stage contingency plan to address potential severe gas shortages in the coming months, reports the FT.

Gas systems operators in Europe have warned of such a measure, stating that pipelines send gas to the UK in the winter. "Because while it is beneficial for the continent in the summer, it is also beneficial for the UK in the winter," Bart Jan Hoevers, president of the European Network of Transmission System Operators for Gas, told the FT.

Major gas consumers in continental Europe are already bracing for an emergency in the gas market, especially after Russia significantly reduced gas supplies to major customers, including Germany and Italy, earlier this month.

Most EU members expect the situation to deteriorate further. Last week, Germany activated the second phase of its three-phase gas emergency plan, preparing for the possibility of a complete shutdown of gas supplies from Russia through the Nord Stream pipeline. after all, as shown in the chart below by Die Zeit, supplies are at a minimum

Russian gas supplies to Europe are now down 70% from this period last year, Ole Hansen, head of Commodity Strategy, said Tuesday. Inventory levels are below the five-year average and there could be rationing and demand destruction on the horizon, he added.


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The article The UK will be able to cut off gas to Europe in the event of a crisis. Friends, friends, friends a…. comes from ScenariEconomici.it .


This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/il-regno-unito-potra-tagliare-il-gas-alleuropa-in-caso-di-crisi-amici-amici-amici-un/ on Thu, 30 Jun 2022 09:00:22 +0000.