{"id":109757,"title":"Gas prices rise due to reduced Norwegian production.","publisher":"Share Talk","author":"sharetalk","published":"2023-09-04T07:04:35+00:00","modified":"2023-09-04T07:04:35+00:00","canonical_url":"https://www.share-talk.com/gas-prices-rise-due-to-reduced-norwegian-production/","markdown_url":"https://www.share-talk.com/gas-prices-rise-due-to-reduced-norwegian-production.md","json_url":"https://www.share-talk.com/gas-prices-rise-due-to-reduced-norwegian-production.json","category":"Energy","categories":["Energy"],"tags":["DNO","Equinor","Europe","gas","Gassco","Genel Energy","Home Guard","military","Nord Stream","North Sea","Norway","Norwegian","oil","Operator","pipeline","Plant","Shell","Tawke field"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&ssl=1","format":"news","language":"en-GB","content":"European natural gas prices have surged, continuing from last week, due to disruptions in Norwegian supplies to the UK and mainland Europe.\n\nDutch benchmark futures saw an uptick of 5.3% in early trades after Norwegian production, which is Europe’s leading source, hit its lowest since at least 2015 over the past weekend.\n\nThe current production is below half of Norway’s full potential.\n\nEven though the demand in Europe has been subdued and storage sites are close to capacity, the decrease in supplies is causing anxiety in a market already unsettled by potential strikes in Australia.\n\nSince Saturday, three Norwegian fields have paused their supplies for unannounced maintenance tasks.\n\nThis comes at a time when the market is grappling with the closure of the massive Troll field and other infrastructures.\n\nDutch front-month futures, the gas standard for Europe, traded at an increase of 3%, costing over €36 per megawatt-hour. The UK’s counterpart saw a 4.5% hike."}