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Norway announced additional capacity cuts at its Kollsnes gas processing plant during a three-week stretch of planned and unplanned maintenance. Gas volumes to Europe fall by more than 120 MMcm/d, about a third of average flows.
European storage is about 92% full, but Norway's role as the continent's top supplier leaves the market on edge.
Reduced Norwegian pipeline flows tighten European supply and keep TTF prices near $13/mmBtu. Higher European gas costs raise nitrogen fertilizer prices and the cost of European feed processing.
naturalgasintel.comTherese RobinsonAug 30, 2024After 54 past bullish logistics events, Natural Gas moved a median -1.8% over 5 sessions (43% higher; middle half -5.7% to +6.2%), and +5.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
