U.K. natural gas for immediate delivery rose after Royal Dutch Shell Plc and Total SA reported production halts and pipeline deliveries declined.
Gas for immediate delivery climbed as much as 12 percent after Total evacuated its Elgin platform in the North Sea after a gas leak and Shell said power use at the Ormen Lange field in Norway fell due to an “unplanned trip.” Imports through the Langeled link from Norway fell 70 percent, grid data show.
“The gas leak at the Elgin Well Head Platform remains ongoing and we are taking all possible measures to try to identify the source and cause of the leak and to bring it under control,” Total said in an e-mailed statement.
Within-day gas climbed as much as 6.35 pence to 59.85 pence a therm. It was at 57.75 pence at 4:30 p.m. in London, according to broker prices compiled by Bloomberg. That’s equal to $8.98 a million British thermal units. A therm is 100,000 Btu. Gas for tomorrow was at 55.65 pence at that time.
Norwegian imports through Langeled, the pipeline transporting fuel from Ormen Lange (NGRFELAN) to Britain, dropped to a rate of about 19 million cubic meters a day, National Grid Plc data show.
The Elgin platform’s 19 core crew along with 150 non- essential personnel were evacuated from the platform after a “well control problem” caused a gas release, according to the company’s Twitter Inc. account.
The April gas contract added 0.35 pence to 58.65 pence a therm. The summer contract advanced 0.45 pence to 59.2 pence.
Electricity for tomorrow declined 1.5 pounds to 43 pounds a megawatt-hour ($68.53), according to broker data. Summer power added 25 pence to 46.15 pounds.
The Dragon LNG terminal in south Wales will receive a cargo of liquefied natural gas April 1 aboard the Methane Nile Eagle carrier from Trinidad, according to the Milford Haven Port website. It’s a BG Group Plc-owned vessel. Two additional LNG carriers are heading to Belgium’s Zeebrugge terminal, port data show.
About 32 percent of Britain’s electricity was being generated by gas-fed stations today, with 47 percent coming from coal-fired stations, grid data compiled by Bloomberg show.
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