A disruption of Norwegian energy supplies to the European Union or the UK could lead to faster depletion of natural gas storage facilities in Europe a potentially add to the already existing chaos in the energy market.
- Sep 27, 2022, 4:30 PM CDT
Analysts are worried that the leakages and explosions on both lines are not an incident but linked to the launch of the Baltic Pipe. First of all, the Dutch government announced this week that Europe’s largest onshore gas field Groningen will be put on the back burner, with gas production of less than 2 BCM, as predictions showed no extra volumes are needed anymore. The reality, however, might be more difficult to predict. With a longer duration of the Ukraine war, possibly even with a nuclear scenario at play, and EU sanctions on Russian oil on the horizon, the market is potentially heading for a dark scenario.
Kristoffer Bottzauw, Denmark’s energy agency director, stated that Denmark wants to ensure thorough oversight of the country’s critical infrastructure to strengthen its security of supply. Sweden is not yet increasing its preparedness levels but is following all very closely.
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