Prices soar after UK-Belgium gas pipeline closure

The fault that shut down the Interconnector UK-Belgium gas pipeline today has been found, but the line will remain closed while the problem is rectified, the operator said. “The fault [the failure of a water/glycol pump in the Bacton boiler house] has been identified and we are seeking to rectify the problem. We remain unable to flow gas,” the company said. UK gas wholesale prices shot up by almost 40% to a record high as a result. The Interconnector is one of Britain’s main gas import pipelines and on Wednesday set a new record exporting 783 gigawatt-hours of gas from Belgium to Britain.

(Reuters)