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U.K. LNG Terminal Stockpiles Reach Record Amid North Sea Works
2010-08-20 10:47:35.697 GMT
By Ben Farey
Aug. 20 (Bloomberg) -- U.K. stocks of liquefied natural gas
held at terminals reached a record as the country imported
tanker-borne gas amid North Sea field maintenances.
National Grid Plc data show stocks at the U.K.'s three main
LNG terminals, South Hook and Dragon LNG in Wales and the Isle
of Grain east of London, reached 9,261 gigawatt-hours yesterday.
That's about 861 million cubic meters or enough to supply the
U.K. for about two days of peak winter demand.
A total of 11 LNG tankers are scheduled to arrive in
Britain this month with a 12th possibly diverted to Brazil,
according to ship tracking and port data.
August is a month of heavy North Sea and Norwegian field
maintenances, raising the demand for tanker-borne gas. Almost
half of the U.K.'s electricity is generated by burning gas.
Exxon Mobil Corp. owns about 24 percent of South Hook LNG
Terminal Co. Qatar Petroleum holds almost 69 percent, and Total
SA owns the rest.
BG Group Plc owns 50 percent of Dragon LNG. Malaysia's
Petroliam Nasional Bhd, known as Petronas, holds 30 percent and
Rotterdam-based 4Gas 20 percent.
BP Plc, Algeria's Sonatrach, Centrica Plc and GDF Suez SA
have capacity at the Isle of Grain, operated by National Grid.
LNG is gas that's cooled to a liquid to ease transportation
and storage.
For Related News and Information:
For Related News and Information:
Top Gas Story Page: TGAS <GO>
U.K. Gas Prices: UGAS <GO>
--Editors: Raj Rajendran, Jonas Bergman.
To contact the reporters on this story:
Ben Farey in London at +44-20-7673-2369 or
bfarey@bloomberg.net
To contact the editor responsible for this story:
Stephen Voss on +44-20-7073-3520 or sev@bloomberg.net
