An undersea gas pipeline connection point, which connects a gas processing unit in Norway to the UK, requires repairs and has been closed, believed to have caused a reduction in supply.
The price of European gas rose more than 10% this Monday, driven by the closure of a gas pipeline connecting Norway with the United Kingdom, while Europe continues to depend on Norwegian supplies.
At 11:15 GMT (one hour more in Lisbon) this Monday, the TTF futures contract, considered the European reference for natural gas, was trading at 37.69 euros per megawatt hour (MWh), shortly after having risen 13 % and reach the highest level of the year, 38.70 euros.
“There are operational problems at the Sleipner Riser platform”, a connection point for the Langeled subsea gas pipeline linking the Nyhamna gas processing plant in western Norway to the Easington terminal in central-eastern Britain Randi Viksund, communications director of the Norwegian company, told AFP. Gassco operator.
“Repairs are needed. As a result, Langeled was closed.which caused reductions in the gas distribution system,” he added.
The reduction in volumes was 29.7 million m3 on Sunday and is expected to be 56.7 million m3 this Monday.
“There are no deliveries to Easington,” Viksund said, but those to St. Fergus in Scotland were not affected.
After the Ukrainian war, Norway became Europe’s main supplier of natural gas, reducing its energy dependence on Russia.
The TTF is currently at the highest level since December 2023. Prices, however, remain well below those recorded shortly after the Russian invasion of Ukraine.in February 2022.
“We are working on a plan to repair the damage” to the Sleipner Riser platform, Randi Viksund said.
Source: Observadora
