Norway's gas field restrictions heighten European supply woes
Gas prices in Europe are rising due to unplanned restrictions at Norway's Troll field. This situation affects the availability of supplies, causing concern among traders and consumers in Europe.
Bloomberg reports that unexpected capacity restrictions at Norway's Troll field have increased natural gas prices in Europe.
Traders are worried about supply availability, which is particularly important in Norway's ongoing maintenance season. A 2.2% rise in futures contracts on Monday continued a four-week trend.
Europe faces the challenge of replenishing underground gas storage after a harsh winter. The fill level is averaging 34%. Analysts say the EU needs about 26 billion cubic metres of gas more than in 2024.
Unexpected disruptions in supply and increasing demand in other regions further complicate the situation. Although gas supplies continue, exchange prices remain volatile, reacting to disturbances.
Key supplier
After Russia ceased supplies, Norway became a key gas supplier to Europe.
Bloomberg notes that problems with the external power supply at the Troll field, along with planned maintenance at the Nyhamna plant and the Aasta Hansteen field, impact supply stability.
Dutch futures contracts increased by 1.2%, reaching £32 per megawatt-hour.
