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Wales terminal takes first delivery of gas
Saturday, March 21, 2009
The first cargo of gas was delivered yesterday at a new terminal in south Wales - part of the world's most expensive energy project and capable of supplying a fifth of Britain's demand.
The arrival of liquefied natural gas from Qataropens up a source of supply that will play an increasingly important role in meeting Britain's energy needs.
The additional gas will put further downward pressure on the wholesale price of gas in the British market, which has plunged over the past six months, raising hopes of further cuts in retail prices.
The construction of the South Hook terminal at Milford Haven, Europe's biggest LNG facility, was hailed by Ed Miliband, the climate change secretary, as a boost to energy security.
However, the terminal has been unpopular with residents because of safety fears, although the LNG industry boasts an excellent safety record.
The LNG will be stored in up to five vast tanks, each bigger than the Albert Hall, and capable of holding enough gas to supply the UK for eight hours.
This story was featured on The FT Website
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