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SSE to mothball some UK Hornsea gas storage site withdrawal capacity

Reuters - UK Focus

LONDON, March 26 (Reuters) - SSE (LSE: SSE.L - news) has decided to mothball a third of the natural gas withdrawal capacity at its Hornsea gas storage facility in Britain due to unfavourable market returns, it said on Thursday.

"SSE has identified that the costs of operating, maintaining and upgrading the older withdrawal plant at its Hornsea facility are not currently supported by market returns," SSE said.

"It has decided to mothball 33 percent of the withdrawal capacity of the site (6 mcm/day) with effect from May 1, 2015," it said in a statement. (Reporting by Nina Chestney and Nerijus Adomaitis; editing by David Clarke)