LNG

National Grid plc of the UK, whose various businesses include the Grain LNG terminal on the Medway River in Kent, Interconnectors to the European Union and US power and gas businesses in New England, reported a 12 percent fiscal year increase in operating profits to £4.89 billion ($5.98Bln) compared with £4.37Bln in the previous year.

Nov 10 (LNGJ) - National Grid plc, owner of the UK Isle of Grain LNG import terminal on the Medway River in Kent, reiterated the importance of LNG deliveries this winter. It said the scenarios facing the UK’s Gas System Operator are all dependent on flexible sources of imported gas supplies throughout winter, particularly LNG.

   “Gas infrastructure in Great Britain has sufficient capability to meet peak demand this winter, but the outlook underlines the importance of imported gas throughout to meet demand. A potential shortfall in European gas supplies could impact the ability for the UK to import gas should it be required. The GSO has the physical, commercial and market based tools to manage a supply and demand imbalance, including those related to a Gas Supply Emergency, should it be necessary,” said the company in its earnings report.

National Grid plc of the UK said annual operating profits from the Isle of Grain LNG import terminal in Kent, the largest in Europe, rose by 5 percent with only 30 percent capacity utilization, while its large investments in US operations were offset by regulatory setbacks.