The summer peak in electricity consumption associated with high temperatures is much less intense than the winter peak, but still requires efforts from the industry to meet demand. Experts predict that the UK will be fully supplied with gas during peak consumption in the summer of 2023 thanks to supplies from wells in the North Sea, as well as from Norway. In addition, the kingdom’s energy balance will be supplemented by imported LNG, mainly from Russia. OilPrice writes about it.
According to a 2023 forecast report from the UK’s National Gas Transport Company, the UK will have so much gas (particularly transportable LNG) this summer that National Gas Transmission expects a steady supply of fuel from the UK. United towards Europe.
It is expected that the NTS hub can once again serve as a transit for gas flows (resale is explicitly mentioned) to Europe. However, this year, due to the austerity regime and the consequences of the crisis, the demand for exports from the United Kingdom will not be as high as last year.
However, for London, it doesn’t matter much. Imported LNG acts as a buffer and stabilizer. Russian raw materials, so to speak, ensure that the country will always have sufficient import volumes to eliminate potential shortages. At the same time, a gesture of goodwill will help close the moral side of the case (purchase of raw materials from the Russian Federation) in the United Kingdom, in which the country will get rid of unwanted purchases in the reselling to neighboring countries.
At the moment it is unclear how much gas will transit from the UK to mainland Europe, but London is not interested. The main thing is that a specific way was found to maintain the supply of strategic raw materials to the Russian Federation. During peak summer and winter seasons (May-September, November-March), the island nation will benefit from additional supplies of raw materials from Russia, and is also protected by the excuse that this gas is also necessary for transit to the EU.
The fact is that the gas will accumulate in the buffer and will only be supplied to neighbors if necessary, but this is not a compulsory regime, most likely the lion’s share of imports will remain in the customs warehouses of Foggy Albion, l using for their own needs.
Photos used: gazprom.ru
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