Sun, 18 May 2025

Sun, 18 May 2025 Energy boss warns over future of gas storage facility

UK's largest gas storage facility will miss £2bn investment without help, boss of Centrica tells BBC.
Centrica's Rough gas storage facility, the UK's largest, may be closed if the government doesn't provide support for its redevelopment. The company wants to invest £2bn in the site but says it needs help with energy pricing. Without this investment, the site will lose £100m this year and could be decommissioned. Centrica CEO Chris O'Shea said the facility is crucial for providing gas storage and that its closure would leave the UK with only 6 days of gas storage capacity instead of 25-30 days. The company is seeking a "cap and floor" pricing mechanism to allow investment in the site, which would create thousands of jobs during construction. The government says it's open to discussing proposals but it's a commercial decision for Centrica. The Rough facility has been partly reopened since 2022 after being closed in 2017 due to the energy crisis triggered by Russia's invasion of Ukraine. O'Shea said that without investment, the site would be decommissioned and the UK would lose resilience in its gas storage capabilities.
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