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Outage impact at Norway Kvitebjorn gas field revised upward for Thu

Highlights

Within-day gas flows to be cut by 14 million cu m/d

Outage expected to be resolved by Friday

Compressor failure started unplanned outage October 1

London — The unplanned outage at Norway's Kvitebjorn gas field is expected to cut flows by 14.4 million cu m Thursday after the impact was revised up late Wednesday, gas grid operator Gassco said.

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The volume impact for Thursday had been expected at a lower 7.5 million cu m, and the duration of the outage -- caused by a compressor failure on October 1 -- has been pushed back a day.

Gassco said the problem is expected to be resolved during Friday's gas day, though it was still predicting on Thursday a 7.4 million cu m day-ahead impact.

Gas from Kvitebjorn -- operated by Equinor -- is processed at the Kollsnes terminal.

Norwegian pipeline gas exports were running at 239 million cu m/d early Thursday, still well below capacity of close to 350 million cu m/d despite only minimal planned maintenance across the Norwegian continental shelf.

Norwegian gas output has been subject to commercial turndown in recent months as very low Northwest European gas prices incentivize deferring gas production until later higher-price periods.

On Wednesday, the Dutch TTF day-ahead price dropped to just Eur8/MWh, according to S&P Global Platts assessments, the equivalent of just $2.57/MMBtu.

That brings the European price down toward the level of the Henry Hub gas price in the US, currently trading at around $2.22/MMBtu.

-- Stuart Elliott, Stuart.Elliott@spglobal.com

-- Edited by James Burgess, newsdesk@spglobal.com