Gas prices are rising in Europe due to the contraction of Norway supplies

The prices of natural gas in Europe continued their profits after announcing unexpected discounts in the production capacity of the “troll” field in Norway, which increased the limitation of gas flow from the region’s largest supplier. Standard futures for gas rose 2.2% on Monday and continued their profits for the fourth consecutive week. Traders have recently become more concerned about the availability of fuel supply, in light of an extensive maintenance season in Norway, as well as the risks of great demand in other regions consuming gas competing with Europe for supplies. The pressure on European supplies before the winter has increasing pressure to refill its underground stores after last winter has drained these supplies more than usual, and unexpected interruptions in supplies or sudden demands increase their complexity of their efforts to attract more gas flow. Despite the continued pump of gas so far, prices have seen serious fluctuations as a result of news that talks about supplies, and have regained more than half of the losses it suffered in April. The “Troll” field, under pressure, became Norway, the largest gas supplier in Europe, after Russia reduced its shipping by tubes in the aftermath of its invasion of Ukraine. The “Troll” field had problems with the electricity supply it received from abroad last week, while the maintenance work planned in the processing facility in “We will Denex” and the “Aasta Handstone” field. Dutch future contracts have increased for the nearest month, which is the reference for gas prices in Europe, by 1.2% to 36.90 euros per megawat/hour at 09:06 in Amsterdam.