Norway's Gas Exports to Britain Resume: Easing Energy Supply Concerns

Norway's gas exports to Britain will gradually resume on Friday through the Langeled pipeline after an outage since Sunday. The ramp-up will deliver 35 million cubic meters of gas daily from the Nyhamna plant, around 44% of its capacity. The Dutch front-month gas price also eased slightly following the update.

Norway's gas exports to Britain via the Langeled pipeline will gradually resume on Friday following an outage that began on Sunday, delivering just under half the normal capacity, Norwegian system operator Gassco said on Wednesday.

The ramp-up plan will see an available volume of 35 million cubic metres (mcm) of gas per day on Friday from Norway's Nyhamna processing plant, some 44% of its overall 79.8 mcm capacity, according to a message on Gassco's transparency page. The flow of gas from Nyhamna through Langeled to Britain's Easington terminal had been scheduled to resume on Friday morning, Gassco had

said on Tuesday, but the operator had not previously provided a volume estimate.

Europe's benchmark gas price, the Dutch front-month contract, eased to 33.50 euros/MWh from 33.75 euros/MWh following the Gassco update, and was down 2.1% by 1203 GMT compared with Tuesday's close. The outage that began late on Sunday drove European gas prices on Monday to a peak of 38.56 euros/MWh, their highest since December. Gassco attributed it to a

crack in a two-inch pipeline onboard Equinor's offshore Sleipner Riser platform.