UPDATE: ConocoPhillips: UK Theddlethorpe Gas Terminal Offline
02 September 2009 - 1:18AM
Dow Jones News
The U.K.'s Theddlethorpe gas terminal is offline, a spokeswoman
for operator ConocoPhillips (COP) said Tuesday.
Data on the Web site of U.K. gas network operator National Grid
shows gas flows from the terminal sank from a rate of around 17
million cubic meters a day just before 0600 GMT Tuesday to
zero.
It isn't yet clear why the terminal is offline, and the company
declined to say what was responsible for the outage or when normal
output was expected to resume.
Traders of natural gas based in London said the outage was due
to maintenance and the facility was expected to return to normal
operation Sept. 20.
They added the drop in flow had lifted prompt prices, and pegged
within day at 21.75 pence a therm and day-ahead at 22 pence a
therm.
Company Web site: http://www.conocophillips.com
-By Angela Henshall, Dow Jones Newswires; +44 (0)20 7842 9285;
angela.henshall@dowjones.com