National Gas has insisted that Britain's gas storage levels are broadly in line with expectations for this time of year, despite reports suggesting the country has only two days of gas reserves. The clarification comes amid concerns that the Iran war is disrupting liquefied natural gas (LNG) shipments, with tankers being diverted from Europe to Asia.
According to National Gas figures, Great Britain had 6,999 gigawatt hours (GWh) of fossil gas stored on Saturday, down from 9,105 GWh a year earlier. Maximum storage capacity is equivalent to 12 days of gas, and current levels equate to under two days of reserves. However, National Gas stressed that storage is only a small part of the UK's diverse gas supply mix, which includes domestic production from the UK continental shelf, imports from Norway, LNG, and interconnectors with continental Europe.
A spokesperson for 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." The government noted that gas will continue to play a key role as the UK transitions to cleaner energy.
Gas prices have risen sharply since the US and Israel intensified airstrikes on Iran over a week ago. 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 per therm, up from 78.5p before the conflict began.
National Gas has proposed policies to safeguard future energy security, including maintaining flexible supply capacity, expanding LNG, and introducing floating storage units. The company's chief executive, Jon Butterworth, described the current situation as a "defining moment for Britain's energy security."
