The disruption of Norway’s gas exports to the UK through repairs to the Langeled pipeline, which will likely be resolved in the next two days, Gassco, the Norwegian system operator, said on Tuesday. Gas flow is expected to resume early June 7.
Langeled pipeline repair to last two days
This supply disruption, attributed by Gassco to a crack in a two-inch pipeline located on Equinor’s Sleipner Riser platform, triggered a spike in gas prices in Europe, the United States and other markets on Monday.
According to Alfred Hansen, head of systems operations at Gassco, following a meeting with Equinor. However, Hansen added that repairs could take more or less time than estimated, although they are not expected to extend for weeks.
European gas flow stops
Indeed, the supply disruption on Monday lifted gas prices in Europe to their highest level since December, as concerns that supply and demand could be reduced, because of remaining Russian volumes and strong heat waves in Asia, make competition for gas in the region’s markets difficult. gas n liquefied natural gas (LNG). (LNG).
Europe’s benchmark gas price, the Dutch one-month contract, responded to Gassco’s latest forecast, giving up 4% to stand at €34.93/MWh at 09:25 GMT on Tuesday. On Monday, the price had reached a high of 38.56 euros, its highest level since early December.
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Source and photo: GASSCO
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