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Centrica's UK gas storage site has potential issue with well integrity

Reuters - UK Focus

(Adds details, background)

LONDON, March 20 (Reuters) - Centrica Storage Ltd (CSL (Other OTC: CMXHF - news) ) said on Friday that it had identified a potential issue with well integrity that could affect all wells at Britain's biggest gas storage site, Rough.

The business had said this week that the amount of stock in the Rough reservoir could be limited to a range of 29 TWh to 32 TWh but gave no further details at the time.

"CSL is still evaluating if the well integrity issue can be remedied and, if so, how long this would take," it said in a market message on Friday, adding that an update would be provided on or before March 26.

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Injection and withdrawal capacity from the site remain unaffected, it added.

Centrica (LSE: CNA.L - news) on Thursday suspended marketing of storage capacity due to the potential limit on stocks.

The highest stock level that Rough reached in 2014 was 41.1 TWh.

According to a CSL report published in December, there are 29 wells in operation at the Rough site, located below the seabed off the east coast of England. (Reporting by Sarah McFarlane, additional reporting by Oleg Vukmanovic; Editing by David Goodman and Pravin Char)