StatoilHydro, the Norwegian oil group, said that it had discovered the leak from a gaspipeline linking its Kvitebjoern field in the North Sea to the Kollsnes onshore processing plant. The state-controlled company said that the pipeline, which pumps an estimated 5 per cent of Norway's total gas output, was likely to be out of action until next spring.
Statoil was forced to close the Kvitebjoern field, a move that reduced gas supplies tothe UK from Norway via the Langeled pipeline by 18 per cent to 40 million cubic metres a day. The news sent the forward price of gas for delivery to Britain this winter 14.6 per cent higher to 104p per therm from 90p as traders fretted about the increased threat of supply problems. Prices for immediate delivery also rose from 55p to 58p per therm.