Norway Fuels Gas Bears as Troll Output Set for 8-Year High
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European natural gas traders have one more reason to be bearish: Norway is overproducing and output at the nation’s biggest field is poised to reach an eight-year high.
Europe’s second-largest supplier pumped more gas than forecast in five of the first six months this year, Norwegian Petroleum Directorate data show. Output from the Troll field is set to climb 23 percent to 33.5 billion cubic meters (1.2 trillion cubic feet) in the year through September, according to an estimate by Eclipse Energy Group, a London-based consultant.