Europe & Russia: Production
Despite a strong start to the year, output in the UK and the Netherlands will fall in 2017, with Dutch production set to be hit by the new cap to supplies from Groningen.
Output from the Netherlands is anticipated to fall by around 2% year on year in H1 as supplies from the Groningen field are reduced. After annual growth at the start of 2017, Groningen’s output will fall over the coming months in order to keep the field’s supplies within the 24 bcm cap for the current gas year (which runs from October to September). This will weigh on the Netherlands’ overall output.