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Netherlands Aims for Groningen Closure October 1

NATURAL GAS

The Netherlands plans to close production at its Groningen gas field by October the FT reported on Sunday citing a government official.

  • The field is set to close October 1 but there is an option of a further year’s production if Europe is suffering a shortage of gas.
  • High gas prices and European shortages have pressured the Dutch government to extend production which was closed due to earthquakes impacting both offshore operations and onshore properties.
  • "It’s very, very simple: everybody who has some knowledge of earthquake danger tells me that it’s really very dangerous to keep on producing there. I’m quite convinced it’s wise to close it down," Mining Deputy Minister Hans Vijlbrief said to the FT.
Energy BulletsCommodities
Energy BulletsCommodities

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