Can the EU cope without Groningen?
Output from the Netherlands’ giant gasfield, a stalwart of European gas supplies for decades, is falling sharply, increasing the continent’s need for imports
The Dutch government says production from the Groningen gasfield will be 27bn cubic metres (cm) in 2016, half the annual volume produced in 2012-13, in line with a court mandate to limit the risk of earthquakes. From 2020, output will fall to 18bn-24bn cm. Previous quota announcements in 2014 and early 2015 had led to rallies in gas prices, but this time it caused a fall, indicating relief that further cuts were not imposed and confidence in the ability of the sector to meet demand. Falling output in Holland and later in the UK offshore sector will, however, lead to a steady rise in European imports. Quite how much will be needed depends on uncertain future demand, as supply is not expected
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