Groningen cap overshadowed by Brexit

By Annemarie Botzki 28 June 2016
  • Twitter logo
  • LinkedIn logo
  • facebook logo
  • Email logo
The Gate LNG terminal in the Netherlands. Groningen’s output cap means Europe needs to import more gas. (Gate) The Gate LNG terminal in the Netherlands. Groningen’s output cap means Europe needs to import more gas. (Gate)

The Dutch government has lowered its annual production cap for the country’s giant Groningen field by 3 billion cubic metres per year, removing uncertainty that has surrounded its target output for months.

However, the result of the UK referendum on Friday to leave the EU has overshadowed the news and caused considerable volatility at Europe’s main gas hubs.

Groningen’s output will be limited to 24 bcm/y for the next five gas years – a cut of 11% from the 2015/2016 cap of 27 bcm/y. The gas year runs from October to September

You must be a subscriber to read this content

Already a subscriber?

If you already have a subscription, sign in to continue reading this article.

Sign in

Not a subscriber?

To access our premium content, you or your organisation must have a paid subscription. Sign up for free trial access to demo this service. Alternatively, please call +44 (0)20 3004 6203 and one of our representatives would be happy to walk you through the service.

Sign up