No gas?

[Tarrel]

The lost imported gas due to yesterday's failure at Bacton represents 4% of our remaining storage (i.e. we used 4% of the remaining storage in order to maintain supply at sufficient levels to meet demand). (Source: National Grid website).

As I understand it, the "one and a half day's supply" in storage represents what would happen if all supply sources were cut off and we had to rely purely on the long term storage for our gas. Of course, this isn,t normally the case. However, in Winter, demand usually exceeds supply. In summer, supply exceeds demand, so we put the excess into storage to cover the shortfall in winter. The long term storage is actually exhausted north sea gas fields into which we pump the excess gas. So, it's normal for the gas in storage to run down as the winter progresses. It's just that several factors have combined to create a situation which is a bit "tight";
1. A power failure in Norway a week or so ago, which reduced the supply to us
2. Yesterday's pump failure at Bacton
3. The late cold snap, which has increased demand
4. High demand for ship-transported liquified natural gas from the rest of the world, which has reduced supply to us.

This situation has been monitored and commented on in some of the peak oil forums over the last few weeks, and is not "news". It's just that it has now hit the mainstream media.