U.K. gas traders have an unusual situation on their hands. The opening of the Langeled pipeline between Norway and the United Kingdom last weekend has flooded the market with supplies and pushed prices below zero. That is, sellers are paying buyers up to 5 pence/therm for the privilege of “selling” their gas.

Wholesale spot gas prices have plunged in Britain, Europe’s second-largest economy. Gas traveling though Langeled, the world’s largest sub-sea pipeline, will provide about 20% of the United Kingdom’s daily demand, Blomberg reported Tuesday. Gas storage is full in the U.K., not that there’s a lot to begin with anyway. This is the first time in nine years that U.K. gas prices have fallen below zero, Bloomberg said.

The Langeled pipeline will eventually carry gas from the Ormen Lange field, which is operated by Norway’s Norsk Hydro ASA. Ormen Lange is supposed to come on line in about a year. When it does, gas shipments are expected to increase to about 70 million cubic meters a day.

Otto Lohne, senior vice president at Gassco, the Norwegian operator of the pipeline, told Bloomberg the firm has sold most of the pipeline’s capacity going into winter. “It’s up to the suppliers if they want to use the capacity they have to send gas,” he said.

Shares of U.K. North Sea gas field operators BP and BG Group PLC traded lower Tuesday.

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