One of the largest gas producers in EU-the Netherlands has become a net importer
It gives Gazprom a chance to increase gas supplies to Europe.
In Q3 2015 the Netherlands purchased more gas than exported. The import record was fixed in September. The net import in July made up 0.27 bln cubic m, in September-0.4 bln cubic m but in the past 2 months the country again became a net importer – 0.55 bln and 1.99 bln cubic m of gas in October and November.
The Netherlands is the 2nd gas producer in EU after Norway. In 2014 the Netherlands extracted 55.8 bln cubic m (-15.8%), consumption-32.1 bln cubic m (-13.3%). 44.1 bln cubic m were sold to the European consumers, by 12.2% of the total gas import to the region (according to BP). Due to the frequent earthquakes in June 2015 the Netherlands reduced the maximum extraction level at the Groningen deposit to 13.5 bln cubic m in H2 (30 bln cubic m for the entire year). In November the Supreme Court of the Netherlands determined to reduced the extraction at the Groningen deposit in 2016 to 27 bln cubic m. the decision of the Court is valid until November 2016. In case of cold weather the extraction can be increased to 33 bln cubic m. The Netherlands will cover the production fall by the LNG purchase or growth of supplies from Russia, G. Rosgers from the Oxford Institute of Energy Researches said.