In 2018, the Dutch government decided to shut down Groningen, the largest European natural gas field by 2030 after earthquakes rocked the region.
However, production is decreasing faster than expected as a spate of LNG cargoes coming into Europe and mild temperatures allowed for lower output from the field.
Based on ICIS forecasts, if production continues at the same rate of the past three years, total Groningen volumes will be around 5 billion cubic metres (bcm) less than the 14.2bcm government target for the current gas year by the end of October.
This infographic by ICIS Senior Reporter Alice Casagni, raises awareness of this dynamic affecting the European benchmark and most liquid market.
Download the infographic now: