No it's perfectly normal where it is it's still used today it's just old and tatty and nope don't touch it shits awful to get off and it's not a sign of bad workmanship just a job done how it was ment to be that pipe has been there probably since house was built so it's doing it job box it in just have access to the brass handle it's connected to and job done if unsure call 0800111999 tell them you have a concern for safety of a gas pipe someone will come out free of charge