Interconnector
From Wikipedia, the free encyclopedia
The Interconnector is a natural gas pipeline between the United Kingdom and continental Europe.
The Interconnector provides bi-directional transport capability to facilitate energy trading in both markets.
Construction of the pipeline was completed in 1998. It crosses the North Sea between Bacton, Norfolk in England and Zeebrugge in Belgium.
Besides the physical capability of gas transfer created by the interconnector, there is a much greater economic factor which allows the trading of gas between countries. This can result in future production being bought and sold because of the possibility of the use of the interconnector. Often in practice because of the transport cost, gas is not actually transported but sold back into the market in the originating country.
Gas export from the UK is termed "forward flow" and gas import to the UK is termed "reverse flow"
The UK export capacity of the Interconnector is 20 billion cubic metres per year. Since October 2006, the UK import capacity is 23.5 billion cubic metres per year; this is due to be raised to 25.5 billion cubic metres per year following an expansion phase.
Interconnector is owned by:
- BG Group (25% of shares)
- E.ON Ruhrgas (23.59%)
- Distrigas (16.41%)
- ConocoPhillips (10%)
- Gazprom 10%
- Total (10%)
- ENI (5%)
[edit] External links
- Interconnector website
