Bacton gas terminal 22922

[king of pipes]

Had a interesting conversation today I went to a offshore workers property for a boiler service and safety check , he recently worked at Bacton he told me there's certainly no shortage of natural gas coming ashore there we have been stock piling gas buying tanker loads from the USA to get us through winter ? , the gas is being pumped in reverse flow to Europe rather than into our gas network , probably being sold at a inflated cost so while we here in the UK we face a bleak winter and staggering gas prices our North sea gas is being sold off to the highest bidder a absolute discrace. Kop

 

[EvilDrPorkChop]

Doesn't surprise you does it.

 

[king of pipes]

The rich get richer and we all get screwed it needs to be put out there if the public knew there would be uproar 👍😉

 

[Pssst]

All bought in on forward contracts and traded on world markets like the stock exchange. The big problem for the UK is that we shut down all or most of our storage facilities so there is very little buffer. No one was charged with the responsibility for storage, so no one did it as there was no money in it. National grid has two re gasification terminals. One at Isle of Grain and one at canvey island. These are where LNG is offloaded.

 

[king of pipes]

All bought in on forward contracts and traded on world markets like the stock exchange. The big problem for the UK is that we shut down all or most of our storage facilities so there is very little buffer. No one was charged with the responsibility for storage, so no one did it as there was no money in it. National grid has two re gasification terminals. One at Isle of Grain and one at canvey island. These are where LNG is offloaded.

Yep your right there bud 27 % of our gas has to be sold off because of no storage they have re reopened a old under sea storage facility but like you said it's sold off under contract years in advance , we even export electricity how crazy is that but who owns these companies?? Not us . Kop

 

[Knappers]

Have you seen how French nationalised energy companies are using profits from the UK to subsidise their domestic energy prices!

Think the issue there is going back to the 80s and privatisation tho.
To be fair the government would have found a way to make oil unprofitable by now if they were left in charge!