Insight
Groningen production cap reduction: implications for 2015 and beyond
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Report summary
The Groningen production cap for the first half of 2015 has been restricted to 16.5 bcm and we now believe that output will be only 33 bcm this year. Revenues for both the state and for the operator will fall. Additional gas purchases of over 5 bcm are now required to satisfy Dutch demand plus its export commitments in 2015. Despite this reduction, we see the risk of European spot prices falling below US$7/mmbtu in Q4 2015. Longer-term we have reduced our outlook for Groningen output.
Table of contents
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Executive Summary
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Groningen production cap for 2015 has been reduced once more
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2015 annual production unlikely to reach revised cap
- Dutch gas-supply demand balance 2015
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State and operator revenue impact
- Groningen production outlook (2012 to 2030)
Tables and charts
This report includes 3 images and tables including:
- Groningen production cap reduction: implications for 2015 and beyond: Image 2
- Groningen production cap reduction: implications for 2015 and beyond: Image 1
- Groningen production cap reduction: implications for 2015 and beyond: Image 3
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