Norwegian Gas Output Remains Low

Norwegian gas output continued its downward path in July, compared with June and compared with the forecast, the regulator Norwegian Petroleum Directorate said August 16. The country's liquids output was up in both measurements, however. 

Gas output of 307.4mn m³/d was down 6.2% from the forecast; down 1.2% relative to June and down 9.8% relative to July 2018. No explanation for the drop was given, but the difference against the forecast suggests it was not just the usual summer maintenance work.

Gas production has been lower than forecast since May, although if it equals July. then August output will beat the forecast.

Looking on the positive side, nearly all the gas is sold in Europe, and the producers have avoided the very low hub prices on the continent this summer.