British gas conductor expresses ‘concerns’ by dropping storage levels

(MENAFN) Centrica, the UK’s major gas operator, has raised concerns about the country’s dangerously low gas storage levels, which are now just enough to meet less than a week’s demand. The situation has been exacerbated by the recent cold snap and the suspension of Russian gas transits. As of January 9, gas storage at Rough, the UK’s largest facility, is 20% lower than last year, despite being fully stocked ahead of the winter season.

The UK’s gas storage has been under strain this winter due to a combination of freezing temperatures and high energy prices. Centrica noted that gas storage levels were already lower than normal by early December, and the cold weather, alongside high prices, made it difficult to replenish supplies over the Christmas period. By January 9, UK storage sites were 26% lower than in 2023, leaving them about half full.

Centrica also pointed out that this situation is mirrored across Europe, where storage levels have also declined significantly. As of January 7, European storage was at 69% capacity, down from 84% last year. Unlike the EU, the UK does not have a mandatory gas storage target, which has left the country vulnerable during this energy crisis. Meanwhile, soaring European energy prices are further compounded by Ukraine’s refusal to extend a gas contract with Russia, cutting supplies to several EU nations.

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