The U.K. North Sea’s Britannia gas field will restart later on Friday after shutting down due to a technical problem at 1000 GMT, a spokesman for field operator ConocoPhillips (COP) said. Gas flow from the field into the St Fergus gas terminal in Scotland fell from a rate of around 32.5 million cubic meters a day before the shutdown to 17.4 mcm/day currently, according to National Grid data. U.K. within-day gas prices briefly hit 87 pence a therm after the shutdown of the field Friday morning, a spike of more than 20% from the closing price Thursday, said a London-based gas trader. The price fell back again to 80p/th by 1550 GMT after ConocoPhillips said it would restart the field promptly. However, the market remained jittery about supplies from U.K. North Sea fields, the trader said.
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