From Platts via Hellenic Shipping News:
Norway’s pipeline gas supplies to Europe fell sharply in April to a
six-month low, with flows totaling just 8.1 Bcm, data from S&P
Global Platts Analytics showed Tuesday.
Deliveries to the UK and Continental Europe averaged 270 million cu
m/d last month, down on the 305 million cu m/d average in March.
That was despite very few unplanned outages and the deferral of some
asset maintenance, with commercial turndown seen as the reason for the
fall given record low European gas prices.
The supplies were the lowest since October last year when Norway delivered just 7.39 Bcm to the UK and Continental Europe.
State-controlled Equinor is due to publish its first-quarter results
on Thursday and could give an update on its “value over volume” strategy
which sees the company defer production from its flexible fields —
Troll and Oseberg — at times of low prices.
Norway has also announced it would cut oil production by 250,000 b/d
in June and 134,000 b/d through the second half of the year in support
of efforts by OPEC and other producing countries to rebalance the oil
market....MORE
