Hammerfest outage helps sink Norwegian exports
The new Gas Year gets off to a torrid start even as oil continues its year-on-year increase streak
Norway’s gas producers had been feeling slightly more positive after cancelled US LNG cargoes had both boosted European prices and appetite for their pipeline exports in the third quarter. But figures released by the Norwegian Petroleum Directorate (NPD) for the first month of the new October 2020-September 2021 Gas Year (GY20-21) served as a salutary reminder that volumes can still undershoot. Equinor, Norway’s largest gas producer, hailed a “strong contribution from European gas sales and trading” in its Q3 results even while its average realised price to the continent, at $2.72/mn Btu, was still down by 48pc year-on-year. The firm “took the opportunity to increase our Norwegian continen
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