New gas pipeline offers secured gas energy stocks for UK
Link: New gas pipeline offers secured gas energy stocks for UK
Recent hikes in gas prices have been a real concern for UK businesses, as part of a general rise in energy costs over the past year.
One of the key problems with UK gas supplies has been lack of supply to the UK from the European continent, with other EU countries holding back general supplies for their own use.
Additionally, Russia has been ruthlessly keen on controlling Russian energy resources as a political negotiating tool.
However, the completion of a new gas pipeline - the Langeled pipeline - is expected to help buffer against supply concerns over the next 40 years.
Covering 1200 miles, it’s not simply the world’s longest gas pipeline - it’s also world’s biggest single engineering project and is supported by Royal DutchShell, Centrica, Statoil, Norsk Hydro, and ConocoPhillips.
Gas from Norway will be piped to East Yorkshire, where it will be stored in huge underground chambers.
It’s hoped that this will help reduce not simple gas prices, but general upward energy pressures within the UK.
