UK wholesale gas prices soared by nearly 14 per cent today after a leak on a North Sea pipeline fuelled fresh concerns about a supply crunch this winter.

Norway’s Statoil Hydro said it had discovered the leak on a gas pipeline linking its Kvitebjoern field in the North Sea to the Kollsnes processing plant onshore.

It warned the pipeline, which pumps an estimated 5 per cent of Norway’s total gas output, could remain closed until 2009.

Statoil was forced to close the field, which cut daily gas supplies to the UK from Norway via the Langeled pipeline by 18 per cent to 40 million cubic meters per day.

The forward price of gas for delivery to Britain this winter rocketed by 13.5 per cent to 102.5p per therm as traders fretted about the increased threat to supplies this winter.

Prices for immediate delivery also increased from 55p to 58p per therm.

“UK consumers really could have done without this,” said Damien Cox, senior energy analyst, at John Hall Associates, an independent energy consultancy. “It’s not a serious supply issue at the moment because demand in August is low but it does raise the likelihood of problems this winter.”

The depletion of gas supplies from the British sector of the North Sea means the UK is increasingly reliant on imported gas and the Langeled pipeline is a key supply route.

About 40 per cent of the gas used in Britain will be imported this year, up from 27 per cent in 2007. That proportion is expected to rise to 75 per cent by 2015.

The UK is highly exposed to supply disruptions because it lacks adequate gas storage, with just 13 days worth compared with 99 in Germany and 122 days in France.

Phil Corbett, analyst at RBS, said the incident highlighted the jittery nature of the markets to any sign of indigenous supply disruptions.

British customers are already grappling with higher gas prices after both EDF and Centrica increased bills for customers. British Gas, owned by Centrica, announced an unprecedented 35 per cent rise in gas bills.

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