• 4 minutes Energy Armageddon
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 10 minutes Russia Says Europe Will Struggle To Replace Its Oil Products
  • 47 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 18 hours Reality catching up with EV forecasts
  • 7 hours Famous author Michael Crichton talks about the "Climate Change Religion" aka Feudalism 2.0
  • 6 days 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 11 days A Somewhat Realistic View of the Near Future for Electric Vehicles Worldwide
  • 12 days "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
Everybody Loves Oil Again

Everybody Loves Oil Again

The reopening of the Chinese…

Small Modular Reactors Struggle With Scalability

Small Modular Reactors Struggle With Scalability

Proponents of nuclear technology are…

Zainab Calcuttawala

Zainab Calcuttawala

Zainab Calcuttawala is an American journalist based in Morocco. She completed her undergraduate coursework at the University of Texas at Austin (Hook’em) and reports on…

More Info

European Gas Network Stable Despite Falling Dutch Production

Despite production cuts at the Groningen gas field in The Netherlands, European gas networks will have stable supply in the short and long terms, according to an industry source that spoke to Reuters.

The Dutch government authorized another 10 percent output reduction last week in order to reduce seismic risk in the area. In its prime, the field produced 53 billion cubic meters (bcm) per day, but the new round of cuts will limit output to 21.6 bcm.

“The European gas system has leeway and can handle further declines in Dutch production,” Stephan Kamphues, board spokesman of Vier Gas Transport, said. The company owns and operates Open Grid Europe (OGE), Germany’s 12,000 km (7,500 mile) gas pipeline. “There is no supply problem,” he added.

ADVERTISEMENT

The announcement has put upward pressure on gas prices, but supplies are still stable despite Holland’s incremental departure from the fossil fuel market.

“The vision is once the Netherlands have left (as producer), the market will decide on the origin of gas,” he said.

ADVERTISEMENT

In the meantime, Russia continues to increase its exports to Europe. Gazprom shipped 190 billion cubic meters of natural gas to Europe in 2017—a record high, according to Bloomberg. In 2018, that figure is expected to dip slightly to 180 billion cubic meters, which will still be the second-most on record.

The higher reliance on Russian gas may come as a surprise, not least because of the ongoing tension between Russia and some European countries on a variety of issues. Russia’s intervention in Ukraine and its annexation of Crimea in 2014 led to a standoff between Russia and the West—but Europe’s imports of Russian gas are up more than 25 percent since then, despite a lot of rhetoric in Brussels about diversification.

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

ADVERTISEMENT


ADVERTISEMENT


Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News