✕
Markets

Norway's gas capacity down by close to a fifth on Monday after storm

Published Updated

OSLO: Norwegian gas export capacity will be reduced by around a fifth on Monday due to power outages at major onshore and offshore facilities, limiting exports to western Europe, gas system operator Gassco said on Monday.

Gas export capacity will be reduced by a combined 62 million cubic metres (mcm) on Monday, or about 18 percent of Norway's overall capacity, with all outages seen ending on Monday, after a winter storm disrupted power supplies.

At 0806 GMT on Monday, exports from Norway, Western Europe's top supplier, were at around 292 million cubic metres, below typical winter flow at around 340-350 mcm.

Production at Kollsnes, the country's top gas processing plant will be down by 45 mcm on Monday, while output at Kaarstoe, the second biggest processor, will be down by 12 million mcm.

In addition, an outage at the Entry SEGAL Pipeline System will cut capacity by 5 mcm.

Power supplies were cut to much of western Norway over the weekend as winter storm Nina battered the coast with hurricane strength winds, including gusts of more than 160 kilometres per hour (100 miles per hour).

Copyright Reuters, 2015