Energy and Utility Management Consultants

Big gas players accused of holding stocks, Statoil announce new field

May 2013


A recent article in the Guardian has suggested that gas suppliers may have been holding back on gas during a day in March when it was claimed that the UK only had “6 hours of gas” remaining. The huge LNG terminals at Isle of Grain and Dragon are reported to have been 40% and 52% full respectively on the same day that prices spiked. Over March LNG stock levels averaged at 30% of capacity. Neither BP nor Centrica were prepared to comment, according to The Guardian.

Statoil, the oil and gas exploration company, has announced that a new discovery of up to 33 million barrels of oil is ready and waiting for extraction from the North Sea’s Grane field, neighbouring several other Statoil fields. Although not a massive volume, the oil here is expected to be tied-in with existing nearby installations, lowering extraction costs and time spent when compared to a similarly-sized, entirely new discovery.

Our full Utility Bureau Service includes Procurement, Bill Validation, Utility Consultancy amongst other benefits, and all at a fixed and fair fee. In order to avoid any unwelcome increases in the market and secure your energy contracts - get in touch now to take advantage of our energy procurement experts. When wholesale markets are on an upward trend, it’s worth considering tendering business early; as an example of how this can benefit - we recommended that one of our clients allow us to tender four of their supplies early.  The tender process itself realised £5,078 savings and the subsequent increase in market added a further £6,524 yielding a total of £11,600.  Our fees for the work were paid back in less than 6 weeks.

*The Clifford Talbot Partnership accept no responsibility for the content of external Internet sites





< Back to news