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U.K. Faces Rough Winter With Limited Storage for Gas

·1 min read
U.K. Faces Rough Winter With Limited Storage for Gas

Companies that buy natural gas in the U.K. are getting a bargain compared with peers in continental Europe. They should enjoy the discount while it lasts. Winter is likely to bring extreme price spikes because the U.K. has next to no space to sock gas away before temperatures slide, according to analysts at Citigroup. For now, an influx of supercooled gas on ships to British ports is swelling supplies and depressing prices in the wholesale market compared with the prices on offer in northwest Eu