Great Britain has only two days of fossil gas stored, with current reserves of 6,999 gigawatt hours (GWh) compared to 9,105 GWh a year earlier, according to National Gas. The decline comes as the Iran war disrupts liquefied natural gas (LNG) shipments, with tankers diverting from Europe to Asia and gas prices soaring.
National Gas insists that storage levels are broadly in line with expectations for this time of year and that the UK’s diverse supply mix ensures security. A spokesperson said: “Most of our gas comes from the UK continental shelf and Norway, complemented by LNG, interconnectors with continental Europe, and storage. Together, these provide the flexibility needed to balance supply and demand reliably throughout the year.”
The crisis in the Middle East has seen at least two LNG tankers redirect from Europe to Asia since Friday, following three similar diversions last week. Iran has effectively closed the Strait of Hormuz, through which a fifth of global seaborne gas passes, and Qatar halted production at the world’s largest LNG plant after a drone attack. UK month-ahead gas prices rose to 137p a therm, up from 78.5p before the conflict began.
Gas injections into storage have increased since 21 February due to milder temperatures, typical when demand drops. While mainland Europe holds weeks of reserves, Great Britain uses storage more flexibly. National Gas is not concerned about short-term levels but has proposed policies to maintain flexible supply capacity, including LNG expansion and floating storage units.
The Department for Energy Security and Net Zero said: “It is categorically untrue that the UK only has access to two days of gas supply. We have a diverse energy mix and are confident in our security of supply. Gas will continue to play a key role as we transition to homegrown clean energy.”
