Norway's troll field hiccup drives Europe gas price surge
Gas prices in Europe are rising due to unplanned restrictions at Norway's Troll field. This situation is affecting the availability of supplies, causing concern among traders and consumers in Europe.
Unexpected capacity restrictions at Norway's Troll field have led to an increase in natural gas prices in Europe, Bloomberg reports.
Traders are worried about supply availability, which is particularly significant in the context of the ongoing maintenance season in Norway. A 2.2% rise in futures contracts on Monday continues a four-week trend.
Europe is facing the challenge of replenishing underground gas storage after a difficult winter, with the fill level averaging 34%. According to analysts, the EU needs about 910 billion cubic feet more gas than in 2024.
Unexpected disruptions in supply and increasing demand in other regions further complicate the situation. Although gas supplies continue, exchange prices remain volatile and react to any disturbances.
Key supplier
After the cessation of supplies by Russia, Norway has become a key supplier of gas to Europe.
Problems with external power supply at the Troll field, along with planned maintenance at the Nyhamna plant and the Aasta Hansteen field, are impacting supply stability, notes Bloomberg.
Dutch futures contracts increased by 1.2%, reaching $39 per megawatt-hour.
