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What happens to Europe’s biggest gas field?

Bloomberg/London: January 13 2018 10:31 PM

Flows from the Groningen field in the Netherlands has fallen gradually in a bid to stop earthquakes triggered by extracting the fuel.

While the current annual production cap of 21.6bn cubic meters remains, the Council of State, the nation’s highest administrative court, in November gave the government a year to come up with a new plan.

More quakes could spur more drastic measures. On January 8, Groningen was hit by the region’s biggest tremor in more than five years.

Two days later, field operator Nederlandse Aardolie Maatschappij BV, a venture between Royal Dutch Shell Plc and Exxon Mobil Corp, proposed a “substantial reduction” in output. The Dutch government must endorse the plan. Any decision will impact the outlook for the continent’s gas supply.

Extract from “Five things that could blow Europe gas market rally off track

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