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MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

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Dutch Government Ordered Closure Of Groningen Gas Field

NATURAL GAS

The Dutch government is set to permanently shut down the Groningen gas field in October according to people familiar with the matter.

  • The closure will take effect from 1 October. The decision will be finalised during a cabinet meeting later this month, a spokesperson for the Dutch State Secretary for Mining said.
  • A maximum of 2.8bcm of gas will be extracted from the Groningen field until October as it is operating at minimum levels now.
  • In April, the Dutch economy ministry decided to close six of eleven remaining production sites at the Groningen field.
  • The government previously said it aims to shut the field at the latest by October 2024, depending on the geopolitical situation in eastern Europe that caused natural gas prices to surge last year.
  • Dutch transmission system operator GTS repeatedly advised against an early closure this year on the back of concerns about security of gas supply.
  • TTF JUL 23 up 20.7% at 46.26€/MWh
Energy BulletsCommodities
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