Centrica increases gas storage capability at Rough by 80%.

Centrica PLC, the parent company of British Gas, has reported a near-doubling of gas storage capacity at Rough, the UK’s most extensive gas storage site.

Located 18 miles off the coast of East Yorkshire, the Rough facility was reinstated for gas storage in October 2022 with a capacity of around 30 billion cubic feet (bcf) of gas for domestic and commercial users across the UK.

However, following significant engineering efforts and investment, Centrica has announced that Rough’s storage capacity has now been expanded to 54 bcf, marking an 80% increase.

This enhancement will strengthen the UK’s energy security during the upcoming winter, providing enough gas to heat an estimated 2.4 million homes throughout the season. At present, Rough is responsible for half of the UK’s total gas storage.

Centrica states that the Rough facility will assist in moderating prices for consumers by maintaining equilibrium in the UK’s gas market. This is achieved by injecting excess supply into the storage facility and subsequently releasing it back into the UK’s gas network during peak demand periods, thus helping to keep prices down.

The increased storage capacity allows Rough to accommodate up to six days of the UK’s average gas usage.

In the long run, Centrica aims to transform the Rough gas field into the world’s largest long-duration, low-carbon energy storage facility, capable of storing both natural gas and hydrogen.

Chris O’Shea, Centrica’s chief executive, stated: “We are prepared to invest £2 billion to repurpose the Rough field into the largest methane and hydrogen storage facility globally, enhancing UK energy security, facilitating a net-zero electricity system by 2035, creating 5,000 skilled jobs, and achieving the decarbonisation of the UK’s industrial clusters by 2040.”

However, he also emphasised that achieving this goal would require “the right regulatory support framework.”


Linking Shareholders and Executives :Share Talk

If anyone reads this article found it useful, helpful? Then please subscribe www.share-talk.com or follow SHARE TALK on our Twitter page for future updates. Terms of Website Use All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned