Daily supply cut by 6.5 million cubic meters! Norway's North Sea main gas field under maintenance

Norwegian state-owned gas transportation operator Gassco announced that planned maintenance at the Gullfaks oil and gas field in the North Sea will commence on August 4 and continue through August 10. During the maintenance period, daily natural gas supply from the field will be reduced by 6.5 million cubic meters.

As Norway is Europe's most important source of pipeline natural gas, the concentrated maintenance of North Sea fields will bring about a phased contraction in supply, supporting European TTF natural gas prices. Natural gas is a core fuel and raw material for numerous chemical plants in Europe; against the backdrop of tightening gas sources, overseas chemical enterprises face upward pressure on energy costs, which will in turn affect external market quotations for chemical products such as olefins and synthetic materials.

This maintenance is part of annual routine maintenance work and represents a short-term phased disturbance. The market will continue to monitor Europe's gas storage levels and the maintenance progress of other North Sea fields to assess the intensity of the transmission of natural gas price fluctuations to the overseas chemical industry chain.