FT: UK gas storage constrained by prices and unclear policy

Britain came within hours of running out of natural gas during a prolonged cold snap this year when there was disruption to an import pipeline and prices spiked.

But natural gas storage projects that could insure against this risk are being held back by a lack of clarity over government policy and market conditions that make many uneconomic.

Up to eight projects worth as much as £3bn are on hold, according to analysis by the Energy Contract Company, as the industry waits for a decision by the government this autumn on whether to provide incentives for investment.  MORE