UK-EU gas pipeline exports halted due to cold weather
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Gas exports through the pipeline, which transports raw materials to continental Europe from the UK through Belgium, were suspended due to equipment failure amid cold weather. The gas pipeline is not expected to operate until March 8, operator Interconnector Ltd said on its website. Drawn attention to this Bloomberg.
This pipeline has been an important source of gas supplies to the European Union after a sharp decline in exports from Russia. However, supplies from the UK to the EU have already declined last week as a cold snap at the end of winter boosted domestic demand for gas.
As noted by Bloomberg, the stalled supply of raw materials from the UK, coupled with a delay in deliveries from Norway, a key supplier to Europe, could lead to large withdrawals of raw materials from gas storage.
According to Eurostat As of February, gas consumption in Europe has fallen by 19% in half a year compared to the average for the same period in the past five years. In some European countries, gas consumption decreased by 40-50%: in Finland – by 57.3%, in Lithuania – by 47.9%, in Sweden – by 40.2%. In the summer of 2022, the EU decided to reduce gas consumption by 15% amid difficulties with supplies from Russia.
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