# Heavy Norwegian gas maintenance adds to energy price pressure Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2022-08-26 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: Norway Gas Export to Europe to Plummet Amid Maintenance Meta Description: Norway, the leading gas supplier to Europe, will significantly reduce gas exports next month for maintenance. European gas prices at record highs. URL: https://financedigest.com/heavy-norwegian-gas-maintenance-adds-to-energy-price-pressurehtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2022-08-26t095259z1lynxmpei7p09frtroptp4norway-gas-1736815359662-compressed.jpg) By Nora Buli OSLO (Reuters) – Norway, which has overtaken Russia as the biggest gas supplier to Europe in the wake of the war in Ukraine, will curtail its gas exports significantly next month due to heavy maintenance activity, with some work deferred from earlier this year. Russian flows via the Nord Stream 1 pipeline across the Baltic to Germany will fall to zero next week as the pipeline undergoes maintenance for three days from Aug. 31, and [market participants](https://www.financedigest.com/powder-dispenser-market-market-2019-2029-where-should-participant-focus-to-gain-maximum-roi.html "Powder Dispenser Market Market (2019 – 2029) | Where Should Participant Focus To Gain Maximum ROI ") are worried they will not resume afterwards. Low hydropower levels and French nuclear outages are also driving European gas and power [prices to record](https://www.financedigest.com/tesla-posts-record-quarterly-deliveries-after-price-cuts-up-4-from-q4.html "Tesla posts record quarterly deliveries after price cuts, up 4% from Q4") or near record highs. The [European benchmark gas contract traded at up to 330 euros](https://www.financedigest.com/european-governments-spend-half-a-trillion-euros-on-energy-crisis-report.html "European governments spend half a trillion euros on energy crisis – report") ($330) per megawatt hour (MWh) on Thursday, its highest since March 7. Norway [supplies gas via pipelines](https://www.financedigest.com/keystone-oil-pipeline-restart-timetable-unclear-traders-worry-about-supply.html "Keystone oil pipeline restart timetable unclear; traders worry about supply") to Britain, Germany, Belgium and France and is expected to produce some 122 billion cubic metres (bcm) of gas this year, according to official forecasts made in May, up 8% from 2021 and possibly beating a record set five years ago. In addition to prioritising gas [sales over reinjection to boost](https://www.financedigest.com/ikea-stores-owner-ingka-says-campaigns-help-boost-store-visits-and-sales.html "IKEA stores owner Ingka says campaigns help boost store visits and sales") crude oil production, Norway has vowed to maintain steady supplies over the summer as Russian pipeline gas flows have been curtailed. Pipeline gas [supplies to Europe](https://www.financedigest.com/germanys-uniper-to-restart-coal-fired-power-plant-as-gazprom-halts-supply-to-europe.html "Germany’s Uniper to restart coal-fired power plant as Gazprom halts supply to Europe") https://graphics.reuters.com/UKRAINE-CRISIS/lgvdwybzlpo/chart.png ![](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/036-1736815359881-compressed.jpg) That has meant gas pipeline operator Gassco has had to delay some planned outages. Some planned maintenance outages have been adjusted this [year to maintain high gas supplies to Europe](https://www.financedigest.com/europe-facing-its-worst-drought-in-500-years-study.html "Europe facing its worst drought in 500 years – study") during the summer months,” a Gassco spokesperson confirmed in an email to Reuters. Planned and unplanned maintenance will reduce [capacity at 13 fields and processing plants](https://www.financedigest.com/switzerlands-new-energy-asset-hydro-plant-with-capacity-to-charge-400000-car-batteries.html "Switzerland’s new energy asset: hydro plant with capacity to charge 400,000 car batteries") throughout September, with lost volumes peaking at 154.68 million cubic feet (mcm) per day on Sept. 7, [according to Gassco data](https://www.financedigest.com/most-sales-and-marketing-teams-struggle-to-activate-data-in-their-organisation-according-to-new-international-study.html "Most Sales and Marketing teams struggle to activate data in their organisation, according to new international study"). At the same time, there is also maintenance at exit terminals in Europe and Britain, [affecting where Norwegian gas will flow to next month](https://www.financedigest.com/english-study-finds-long-covid-affects-up-to-1-in-7-children-months-after-infection.html "English study finds long COVID affects up to 1 in 7 children months after infection"). [Norway gas](https://www.financedigest.com/polands-pgnig-in-talks-to-get-more-gas-from-norway-through-new-baltic-pipe.html "Poland’s PGNiG in talks to get more gas from Norway through new Baltic Pipe") infrastructure maintenance September https://graphics.reuters.com/UKRAINE-CRISIS/klvykwwmrvg/chart.png ![](https://onlineworldnews.com/wp-content/uploads/2022/08/037.jpg) Maintenance should curtail overall gas production, which will drop to 323.9 mcm/day, the lowest point this year, [according to a forecast](https://www.financedigest.com/according-to-the-recently-published-report-by-persistence-market-research-the-global-market-for-gene-expression-analysis-will-reflect-a-steady-growth-during-the-forecast-period-2017-2022-by-the-end.html "According to the recently-published report by Persistence Market Research, the global market for gene expression analysis will reflect a steady growth during the forecast period, 2017-2022. By the end of 2022") from the Norwegian petroleum directorate. ($1 = 1.0010 euros) (Reporting by Nora Buli; Editing by Nina Chestney and Jan Harvey) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---