Wednesday, August 20, 2008
North Sea Gas Field Shutdown until 2009 due to gas leak – Gas prices to soar again.
UK wholesale gas prices soared by nearly 14 per cent today after a leak on a North Sea pipeline fuelled fresh concerns about a supply crunch this winter. Norway’s Statoil Hydro said it had discovered the leak on a gas pipeline linking its Kvitebjoern field in the North Sea to the Kollsnes processing plant onshore. It warned the pipeline, which pumps an estimated 5 per cent of Norway’s total gas output, could remain closed until 2009.