23 January 2023 | Other

Netherlands plan to close Groningen gas field

Dutch authorities still think that the Groningen gas field, once the largest in Europe, should be closed by October. The reason is the risk of earthquakes. This information was given by the Financial Times, with reference to the governmental authorities on Sunday.

Hans Vijlbrief, State Secretary for the Extractive Industries, declared he would continue to follow the previously defined schedule. According to him, the quake-prone gas field should be closed on October 1 with the possibility of preserving it in working order for another year. It is important in case Europe runs out of gas next winter.

In an interview with FT, the policymaker said that everyone who knows about the threat of earthquakes tells him how risky it is to continue working there. Therefore, he is convinced that Groningen should be closed.

Production at the gas field was drastically reduced during the 2010s. That happened after the authorities and NAM (joint venture of Exxon and Shell) understood the threat that earthquakes pose to people and equipment.

Company MarketCheese
Period: 10.04.2026 Expectation: 150 pips
Purchasing SPX with 6,700 in sight
Yesterday at 11:23 AM 18
Period: 31.03.2026 Expectation: 5000 pips
Selling ETHUSD down to support line
Yesterday at 10:18 AM 22
Gold sell
Period: 02.04.2026 Expectation: 300 pips
Gold selloff targets $4,150 as buying power fades away
Yesterday at 10:15 AM 21
Period: 02.04.2026 Expectation: 1400 pips
Selling USDJPY with 158.00 target upon testing resistance
Yesterday at 07:14 AM 16
Period: 31.07.2026 Expectation: 3400 pips
Investing in AUDUSD up to 0.6770
Yesterday at 03:44 AM 12
Period: 31.08.2026 Expectation: 1500 pips
Investing in AUDCAD from 0.9540
Yesterday at 03:44 AM 12
Go to forecasts