# Norway outage pushes European gas prices to highest this year

> Norway's gas exports to Europe fell sharply on June 3 after a shutdown of the Sleipner hub halted operations at the Nyhamna processing plant, caused by a pipe crack. The Dutch front-month contract rose 7.2% to 37.08 euros/MWh, its highest level of the year.

- Date: 2024-06-03 · published 2024-06-03T12:00:00.000Z
- Category: logistics · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/7809-norway-outage-pushes-european-gas-prices-to-highest-this-year
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

A supply loss from Norway tightens European gas supply and raises gas-fired power and fertilizer costs, supporting European gas prices and increasing demand for US LNG.

## Read by commodity

- EURUSD: neutral
- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2023-09-25 | [European Natural Gas Prices Rally on Extended Norwegian Supply Outages – LNG Recap](https://feedsoft.ai/events/34286-european-natural-gas-prices-rally-on-extended-norwegian-supply-outages-lng-recap.md) | +6.4% | +4.3% |
| NATGAS | 2019-12-24 | [New England Natural Gas Prices Hit Two Year High \| OilPrice.com](https://feedsoft.ai/events/7851-new-england-natural-gas-prices-hit-two-year-high-oilprice-com.md) | -2.4% | -11.6% |
| NATGAS | 2023-06-27 | [Norwegian Outages Test European Natural Gas Market, Renew Supply Concerns](https://feedsoft.ai/events/35688-norwegian-outages-test-european-natural-gas-market-renew-supply-concerns.md) | -4.1% | -0.3% |
| NATGAS | 2023-03-27 | [Strikes in France Push European Natural Gas Prices Higher, but Demand Seen Weakening – LNG Recap](https://feedsoft.ai/events/37029-strikes-in-france-push-european-natural-gas-prices-higher-but-demand-seen.md) | +1.5% | +4.9% |
| NATGAS | 2024-04-25 | [Hammerfest, Freeport Outages Send Global Natural Gas Prices Higher – Three Things to Know About the LNG Market](https://feedsoft.ai/events/9864-hammerfest-freeport-outages-send-global-natural-gas-prices-higher-three-things.md) | +9.1% | +64.2% |
| EURUSD | 2020-03-19 | [Wheat: shutdown puts logistics in trouble - Mundus Agri](https://feedsoft.ai/events/8242-wheat-shutdown-puts-logistics-in-trouble-mundus-agri.md) | +0.0% | +0.7% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/norway-gas-export-plummets-sleipner-outage-shuts-nyhamna-plant-2024-06-03/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.