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The Interconnector is a natural gas pipeline between the United Kingdom and continental Europe. It crosses the North Sea between Bacton in England and Zeebrugge in Belgium. Construction of the pipeline was completed in 1998. It provides bi-directional transport capability to facilitate energy trading in both markets. Gas export from the UK is termed "forward flow" and gas import to the UK is termed "reverse flow"
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Economic impact
The UK export capacity of the Interconnector is 20 billion cubic metres per year. Since October 2007, the UK import capacity is 25.5 billion cubic metres per year following an expansion phase. Besides the physical capability of gas transfer created by the Interconnector, there is a much greater economic factor which allows the trading of gas between countries. This can result in future production being bought and sold because of the possibility of the use of the Interconnector. Often in practice because of the transport cost, gas is not actually transported but sold back into the market in the originating country.
Interconnector is owned by:
- Caisse de dépôt et placement du Québec (33.5% of shares)
- E.ON Ruhrgas (25.09%)
- Eni (16.41% - 5% directly and 11.41 through Distrigas)
- ConocoPhillips (10%)
- Gazprom (10%)
- GDF Suez (5% - through Electrabel)
See also
External links
- Interconnector website
- [1] RSS Flow Transitions
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