European Energy Security Faces New Risks With Nord Stream Explosions

The temporary optimism among European politicians and governments about a less volatile natural gas market during the winter of 2022-2023 has come to an end. Just as market fundamentals seemed to be strengthening as a result of rising storage volumes and lower demand, there are a number of new risks. First of all, the Dutch government announced this week that Europe’s largest onshore gas field Groningen will be put on the back burner, with gas production of less than 2 BCM, as predictions showed no extra volumes are needed anymore. The reality,…