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Economy World

Norway natural gas plant set to shut over strike

A key export terminal for Norwegian natural gas will close down on Saturday if a labour strike goes ahead as planned, resulting in a reduction of supplies to Europe, gas system operator Gassco said in a statement on Friday.

The Norwegian Oil and Gas Association (NOG) and Gassco warned on Thursday that the Nyhamna plant, which handles about a quarter of Norway’s gas exports, will be closed unless a strike among security guards is called off.

Exports from the Nyhamna processing facility, which has a capacity of 84 million standard cubic metres (mcm) of gas per day, will be cut by 50 mcm on Saturday, Gassco said.

Norway is Europe’s second largest gas producer after Russia, supplying 22% of the European Union’s demand last year, according to Norwegian government data.

The Nyhamna plant processes natural gas from the offshore Ormen Lange and Aasta Hansteen fields, which are also expected to close when the plant shuts down, Gassco and the NOG have said.

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