Seasonal gas storage levels are at their lowest on record, leaving a “huge concern” over Britain’s energy security in the coming months, a top industry figure has said.
\n\nChris O’Shea, the CEO of Centrica — which owns British Gas — has sounded the alarm on the bare cupboard of energy security Britain has to fall back on going into winter. The United Kingdom already has a comparatively small national bunkering capability for natural gas — and the government has proven astonishingly reluctant to change this, despite opportunity and the importance of natural gas to the country — and even this would-be stockpile is at historically low levels, he says.
\n\nIn normal times, gas reserves are topped up during summer from surplus domestic production and imports when demand is low and prices are cheap, holding that stock to burn in winter when demand is greater and global prices concomitantly higher. This year, gas reserves have dwindled and there is little sign yet that storage will be filled for winter.
\n\nPosting to social media in response to warnings European states will be less able to fall back on Norway’s energy surplus to meet their own demand in future, O’Shea wrote “We have…
Original source: https://www.breitbart.com/economy/
