Bloomberg: Nord Stream Start May Damp U.K. Gas Prices as Stores High

The end of maintenance at a pipeline to Germany from Russia later this week will probably cut gas export demand from the U.K., putting pressure on prices as Britain’s storage sites are set to fill up earlier than usual.

Planned maintenance at the Nord Stream pipeline started on June 24, limiting supply to Germany and helping support prices in the U.K., which boosted exports to the continent, according to London-based consultants Energy Aspects Ltd. Works on the link that runs under the Baltic Sea are scheduled to end tomorrow, according to network operator Opal Gastransport.

Gas demand to fill storage sites in the U.K. will slow this month and next as inventory building is “basically already done,” according to Credit Suisse Group AG. (CSGN) Facilities will probably be filled in August, earlier than the usual October period, according to Richard Sarsfield-Hall, a senior principal at Poeyry Consulting (U.K.).
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