Dutch Court to Rule on Gas Output From Europe’s Biggest Field
Article by Isis Almeida published 13April 2015 by Bloomberg.com
The Netherlands, the biggest gas producer in the European Union, said Feb. 9 it would limit output from the field during the first half of the year, sending prices up 13 percent that week. Unrelated to the court case, the government has also said it would decide July 1 on cutting a full-year output cap to 35 billion cubic meters (1.2 trillion cubic feet), 11 percent below a previous target.
“Groningen represents further loss of supply, so if a cut is announced to 35 billion cubic meters, the market will react,” May Mannes, head of gas and liquefied natural gas analysis at Platts’ Eclipse Energy Group, said April 9 by phone from London. “But we see more Norwegian continental shelf gas, LNG supplies and Russian flows stepping up. We don’t expect anything dramatic.”
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