Norway to accelerate gas exports to Britain
Norwegian gas exports to Britain will ramp up via the Langeled pipeline on Friday, according to state owned Gassco. Initially, a daily volume of 35 million cubic metres (mcm) was projected, but this has been increased to 45 mcm.
The Nyhamna Processing Plant, which has a full capacity of 79.8 mcm per day, had an outage due to a crack in a pipeline on Equinor’s offshore platform. This caused European gas prices to spike to their highest level since December.
As of June 6, Europe’s benchmark gas price was 33.5 euros per megawatt hour (MWh), a slight increase from the previous day. The outage affected global markets, raising concerns over supply shortages and driving up gas prices in the United States and Asia.
Norway, now Europe’s largest gas supplier, plays a crucial role in the continent’s energy market. This is especially significant after disruptions in Russian gas supplies following the invasion of Ukraine.
