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The Nyhamna gas plant in Norway, shut since May 19, had its restart delayed after gas was found in a cooling system, and the new start-up is now planned for July 15. European gas prices rose more than 30% since early June after falling sharply earlier in the year.
Other planned and unplanned Norwegian outages add to supply uncertainty.
Norway is Europe's largest gas supplier, so extended outages reduce pipeline flows and keep European prices elevated. Higher gas costs raise nitrogen fertilizer and energy costs for feed producers.
naturalgasintel.comTherese RobinsonJun 27, 2023After 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.
