4 October 2006

United Kingdom is Giving away Free Natural Gas

Unlike our country, price of natural gas in UK varies according to the market demands and supplies. At this moment there is a surplus of supplies and it far exceed their demands therefore the price of natural gas in UK now is at -5p (yup! negative 5 pence) meaning not only u can get it for free but the gas trader will also pay you if you willing to tkae the gas away from them!!! Hows that for a change??!!!

This weekend i gerenti you, lotsa people in UK is gonna do BBQ bcoz they got free gas and also money to buy food to BBQ!!!! All sponsored by the Gas company!!!! Mana mau cari??!!!

You wont get to see something like this in our country one la ... thats why i post it here for u to read lor.



Gas traders start giving it away

A glut of natural gas supplies in Britain has seen prices collapse and left traders having to pay for it to be taken off their hands.

Wholesale gas prices for immediate delivery turned negative on Tuesday as supplies surged in from the new Langeled pipeline from Norway.

Britain's gas storage capacity is 96% full so firms need to offload supplies.

As domestic gas bills are based on longer-term contracts, consumers will have to wait for big reductions.

After trading at an average of 26p a therm through September, the spot price for gas delivered immediately fell to -5p during the course of the day, meaning traders are paying to get rid of it.

Mild weather - and a predicted milder winter - is also reducing demand.

"There is simply too much gas flowing into the UK," said Chris Bowden, chief executive of energy services company Utilyx.

Lazy market

Major UK energy companies may be unable to take advantage of the free gas because of the lack of available storage and the fact that they have "hedged" supplies - protecting themselves against the risk of high gas prices over the winter by buying it in advance at a lower price.

"You won't see the effect from this on lower domestic bills until after the winter," Mr Bowden said.

But that will not be soon enough, according to consumer watchdog Energywatch.

"Consumers have paid a huge price over the last three years - we have seen 80% price rises," said chief executive Allan Asher.

"It is time for more competition in this lazy old market - we need some Tesco gas and a price war in the gas market to match the price war in the petrol market."

Dwindling reserves

Prices are expected to rise again this Autumn as colder weather increases demand and the gas flowing through the Langeled pipeline returns to normal levels.

The £5.5bn, 746-mile long (1,200km) pipeline started pumping gas from Norway into the UK's supply network last Sunday, and is currently working at full capacity for testing purposes.

It has an annual capacity of 20 billion cubic metres of gas and is expected to supply a fifth of the UK's peak winter fuel demand over the next 40 years.

It is hoped the pipeline will ease concerns over dwindling supplies which have sent gas prices in the UK soaring over the past two years.

The UK's own reserves of natural gas are dwindling so it is necessary to import gas from abroad.


When we are paying higher price to purchase our gas other country can give them away for free!!! No! not give for free .... Pay u to take it from them!

Lidis also can!!!! WTF!!!
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2 comments:

  1. dont see that happening in Malaysia ... you only see the Malaysian Gomen sbside sticker only ... saying how much the Gomen sponsor you per tank ...

    ReplyDelete
  2. Why go so far? Even Brunei households are getting free gas fm the govt.

    ReplyDelete

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