National Grid plc, which manages the UK’s electricity and natural gas networks, is looking to secure additional gas reserves to help manage potential supply shortfalls this winter, particularly if LNG deliveries are diverted.

Netback prices

“Due to the war in Ukraine and gas shortages in Europe, there is a significant risk that gas shortages could occur during the winter 2022-23 in Great Britain,” said Britain’s energy regulator Ofgem. “As a result, there is a possibility that Great Britain could enter into a gas supply emergency.” 

National Grid spokesperson Andrew Marsh told NGI the latest gas tender is “a 9% increase on what we have already and is to cover any potential shortfalls” in liquefied natural gas deliveries if more supply is needed. “But we don’t actually...