Pipelines, Storage & Power

Forties and Baumgarten outages boost gas prices

As temperatures drop, the European gas and power market is heating up As temperatures drop, the European gas and power market is heating up.
By Peter Stewart 13 December 2017 0 28766
A gas compressor station in Baumgarten. A gas compressor station in Baumgarten. (OMV)

European gas and power markets were buffeted by supply disruptions in the UK and Austria during a spell of unseasonably cold weather this week, fuelling concerns over supply tightness this winter.

The UK’s Forties Pipeline System (FPS) was shut down on 11 December for repairs that the operator has said are likely to take weeks. The pipeline system is the biggest conduit for oil and gas from the North Sea to the UK, and its closure during an unusually early winter freeze led to sharp volatility...