National Grid warns on gas supply in no-deal Brexit

National Grid has for the first time raised the prospect that the UK could be cut off from gas supplies from mainland Europe in the event of a no-deal Brexit. If the UK were cut off from direct gas pipeline imports, National Grid said the UK would need to increase its reliance on seaborne imports of liquefied natural gas, which could lead to higher prices. "The central assumption is that in a no-deal situation there will be no impact on the trading arrangements for the gas interconnectors," National Grid said in its report. Analysts said the fact National Grid was examining the scenario showed that there was at least some risk of the UK potentially being cut off from EU pipeline gas imports should it crash out of the trading bloc. "LNG is typically challenging to forecast and is subject to uncertainties associated with Asian gas prices and shipping costs," National Grid said.

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