Europe & Russia: Production
Output in the UK has fallen in recent weeks and could decline further, while production from Groningen is set to drop even lower at the start of the new gas year.
The UK’s gas production is estimated to have fallen by 15% on an annual basis in July, a sharp contrast to the growth seen earlier this year. UK output rose by around 6% on an annual basis in H1, supported by new fields coming online. However, maintenance limited production volumes and flows to the market from the North Sea over the latter part of the summer this year. Nevertheless, the UK’s output is expected to rise on an annual basis for this year as a whole, driven by strong levels of growth in early 2017.
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