- National Gas forecasts that Great Britain will have sufficient gas supplies to meet household and business demands this summer, with enough surplus to allow for exports to mainland Europe.
- This projection is made despite a significant surge in global oil and gas prices, which have climbed sharply since late February due to escalating conflict in the Middle East.
- UK natural gas futures saw a notable increase, rising from approximately 78 pence per therm to around 120.7 pence per therm following the conflict's escalation.
- Britain's gas requirements are expected to be primarily fulfilled by supplies from the UK Continental Shelf and Norway (86 per cent), complemented by flexible gas storage (5 per cent) and LNG imports (9 per cent).
- National Gas reviewed its analysis after the Middle East conflict escalated and concluded that the market retains sufficient capacity and capability to meet forecast demand, citing the resilience of diverse supply sources.
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