Insight
Security of gas supply: Does the UK need more gas storage?
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Report summary
The loss of the Rough storage site in 2017 left the UK market with limited storage availability, making it more reliant on continental supply to balance during peak periods. This became more apparent when extreme weather conditions, often referred to as "The Beast from the East", forced National Grid to announce a Gas Deficit on 1 March 2018. Many supply sources failed to supply at maximum rates when called upon. Coal-fired power generation saved the day on this occasion, but is unlikely to be available should future similar situations occur. This leads us to ask the question, "Does the UK need more gas storage?" Graham Freedman, Principal Analyst Europe Gas answered this question when he presented at the London Gas and LNG forum on 2 October 2018. Please see the related attachment for his presentation.
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