BBL pipeline operator to cut tariffs to boost gas imports to Britain
(Reuters) -- The operator of the BBL gas pipeline between the Netherlands and Britain said it would cut tariffs to help meet rising British gas demand following a fall in seasonal storage availability and in imports of liquefied natural gas (LNG).
BBL Company, a joint venture of Dutch Gasunie, German Uniper and Belgium Fluxys, said it would cut reserve prices for all forward flow capacity products by close to 30 percent compared to previous winter months.
"BBL company believes (price) spreads will remain high throughout the coming winter and the tariff reductions are expected to lead to additional sales of BBL capacity," it added in a statement.
Overall UK gas demand rose by 16.5 percent in the second quarter of 2016, compared with the same period a year ago, mainly due to increased demand from electricity generation following the closing of a significant amount of coal power capacity, according to the Britain's Department for Business, Energy and Industrial Strategy (BEIS).
Reporting by Nerijus Adomaitis in Oslo; Editing by Alexandra Hudson
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