BRUSSELS: Interconnector UK, operator of the gas link between Britain and Belgium, set terms for the first sales of pipeline capacity starting from 2018 until late in 2029, according to a statement.
Gas shippers will be able to buy up to 80 percent of the link’s long-term capacity, with the remainder set aside for short-term sales, said the company, a joint venture between Belgium’s Fluxys and Italy’s Snam.
Companies use the Interconnector to ship gas between Britain and Europe, taking advantage of price differences and supply imbalances in either region for profit.
The pipeline can export 20 billion cubic metres/year (Bcm/y) to Belgium and import 25.5 Bcm/y to Britain.
