Norway unscrews gas valves

On July 18, Norway will dramatically increase gas supplies to Europe. Prior to that, failures occurred at two gas processing plants in the country, but they were eliminated within two days. The European Union needs a lot of gas to restore depleted reserves after the winter.

On July 18, Norway will increase gas exports by 20% at once. This is evidenced by the data of the Norwegian GTS operator. Gassco reports that on Friday deliveries will increase from 262 million cubic meters per day to 313 million cubic meters.

The day before, the country's exports fell sharply due to failures at the two main gas processing plants - in Nihamna and Kollsnes. The external power supply of enterprises has fallen sharply, Gassco reported.

The Norwegian operator reported that the failures will be eliminated within a few days. Obviously, it turned out that way. Gassco removed information about failures at the GPP from emergency messages.

As EADaily reported, similar failures occurred with gas supplies from Norway and before. But so far, gas prices are reacting quite calmly to the decline in exports. Quotes on the Dutch TTF declined after the restoration of supplies from Norway. On the afternoon of July 18, they amounted to $ 418 per thousand cubic meters.

Norway became the main supplier of gas to Europe after Gazprom cut supplies to Europe five times due to sanctions and counter-sanctions. Now the export of the Russian company via the only remaining route, the European line of the Turkish Stream, is about 50 million cubic meters per day.

The US continues to set records for LNG exports. However, the total supply of liquefied gas to the countries The EU seriously declined in July. The situation is being corrected by high imports from Norway, but the main gas supplier to the European Union has started to malfunction again.

Meanwhile, companies The EU has narrowed the gap from last year in filling storage facilities. Nevertheless, it still remains at the level of about 20 billion cubic meters.