Europe & Russia: Production
Dutch production will fall over the coming months, weighing on Europe’s overall output during the summer.
Output from the Groningen field in the Netherlands rose by around 10% year on year during Q4 2016, the start of the 2016/2017 gas year. In contrast, Groningen’s output fell by 4% on an annual basis in Q1, and further declines will be seen over the coming months. Production at the field is expected to fall by around 25% year on year during the summer to keep output within the 24 bcm cap set for the 2016/2017 gas year. This will weigh on overall Dutch output through September.