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UK gas prices rise on undersupply, weather, possible sanctions
Imaduddin
17 Nov, 2014
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Copyright Reuters, 2014
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![](https://i.brecorder.com/images/2014/11/natural-gas-nov.jpg">LONDON: British wholesale natural gas prices rose on Monday morning due to undersupply in the UK gas system, forecasts of lower temperatures and the possibility of further European Union sanctions on Russia.</P><P>Gas for day-ahead delivery was up 1.10 pence at 54.50 pence per therm, while within-day gas was up 0.95 pence per therm.</P><P>The UK gas system was expected to be 12 million cubic metres (mcm) short of gas on Monday, with flows forecast at 244 mcm/day and demand at 256 mcm.</P><P>On the supply side, flows from Norway via the Vesterled pipeline dropped overnight. In the UK Continental Shelf, an outage at Total's St Fergus terminal has reduced flows by 7 mcm/day.</P><P>The InterconnectorUK (IUK) pipeline to continental Europe is also in export mode, but there are limited flows.</P><P>)
