Directional impact on forecast:
Bullish for European hub prices
The state-imposed cap for output from the Netherlands’ Groningen field is expected to be dropped to 19.4 billion cubic metres for the 2018/2019 gas year. The proposal for the reduced limit was made on 24 August and is in line with the government’s plans to reduce production from the field as quickly as possible. The new limit is a 10% decline from the 21.6 bcm cap in place for the current gas year.
The government announced...