“Heavy injection” into UK gas storage stops

Some heavy injection into gas storage over the last few weeks in the UK has come to a halt, according to a daily market report. Ben Spry, Optimisation Desk Manager […]

By Vicky Ellis

Some heavy injection into gas storage over the last few weeks in the UK has come to a halt, according to a daily market report.

Ben Spry, Optimisation Desk Manager at npower said: “Over the couple of weeks we’ve seen some quite heavy injection into storage especially over this weekend.

“So a lot of our gas [is] being taken to inject back into the storage facilities however this morning that storage injection stopped and therefore we’ve got a little bit more gas around.”

 

He said the UK’s warm temperatures compared to seasonal norms are still impacting demand for gas.

This “low demand environment” is forcing gas and power prices down this morning, added the analyst.

Oil prices have come down below $110 per barrel, while easing tensions in Russia and Ukraine after the presidential election in Ukraine is also “pressuring” the markets slightly.