Britain's largest gas storage facility threatened with closure
London - Saba:
British media reported on Sunday that Centrica, the operator of the UK's largest natural gas storage facility, is threatened with closure and decommissioning if it does not receive government support.
Centrica, the owner of British Gas, said earlier this month that it was in talks with ministers regarding government cooperation to expand and modernize the Rove facility off the coast of Yorkshire, according to the British news agency (PA Media).
This facility, located in the North Sea, is the largest of its kind in the UK, but Centrica halted natural gas flows to it last month amid concerns about its economic viability.
The company typically begins pumping fuel to the Rove site in the spring, but reports indicate that it had not done so by mid-April.
When Centrica CEO Chris O'Shea was asked on Sunday with Laura Kuenssberg whether the company needed government support, he said: "We're a big company, but this facility will probably lose around £100 million this year because the cost of running it exceeds that amount."
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