Agencies-Gaza post
Europe faces an unexpected gas threat
Britain has warned it could shut down the pipeline to the continent, the Financial Times reports
Europe is facing greater gas supply uncertainty as Britain has threatened to halt its flow of gas to the continent in the event of a severe shortage, the Financial Times reported on Wednesday.
According to the newspaper, cutting off the interconnectors running from the UK to the Netherlands and Belgium would be one of the first actions under a contingency plan that could be triggered if the gas supply crisis deepens in the coming months. Other steps would include suspending supplies to major industrial sites and asking households to consume less, the FT adds.
Europe is currently facing an energy crisis caused by sanctions against Russia, the continent’s main energy supplier. Germany and the Netherlands unleashed contingency plans earlier this month, restarting coal-fired power plants and urging industry to cut gas consumption after Russia cut supplies.
The UK gets most of its natural gas from the North Sea and Norway, with less than 5% from Russia. However, UK gas prices are affected by fluctuations in world markets.
The country has very little storage capacity and in the summer months when demand is low, the surplus is shipped to mainland Europe. In the winter, however, flows are returning and the UK is importing large quantities of gas from the continent, and shutting down interconnectors could backfire if there are persistent shortages, the FT explains.
Britain’s plans risk undermining international energy cooperation, with European gas companies reportedly urging London to reconsider.
