Norwegian Gas Output Slides in Jan
Norwegian gas production dipped 2.9% month on month in January, arriving at 337mn m3/day, the Norwegian Petroleum Directorate (NPD) reported on February 19. Output was down 6.3% year on year and 2.9% lower than forecast, the NPD said.
Liquids production averaged 1.963mn b/day in January, 6.5% below the forecast, 5.4% lower than in December but up 7.9% compared with the same month last year.
"The main reasons that production in January was below forecast is technical problems and maintenance work on some fields," the NPD said.
Source: NPD
Norwegian gas output lagged behind forecasts for much of last year, largely as a result of producers holding some supply back in response to low gas prices in Europe. But maintenance was also a factor. The global gas market has grown more bearish in recent weeks as a result of the fallout from the coronavirus outbreak in China.