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The Irish media are now starting to pick up on the unfolding crisis, it will be interesting to note if Eamon Ryan is called out for the ridiculous delay of Ireland’s energy security review,…GL S
Norway strikes threaten to cut off gas supplies to UK within days
Europe’s energy crisis intensifies as Equinor begins shutting down oil and gasfields
Norway has warned that gas exports to the UK that also supply mainland Europe could be shut off this weekend if a workers’ strike escalates, with up to 60 per cent of the Scandinavian country’s supplies under threat from industrial action.
Equinor, Norway’s state-backed energy company, has already shut down three oil and gasfields since strikes began on Monday evening over pay claims seeking to compensate for rising inflation, in a move that helped propel European gas prices to their highest level in four months.
Around 70 per cent of Irish gas supplies come from the United Kingdom and any prolonged shortage in the UK due to the Norwegian strike could also affect supplies here. Already the news has sent wholesale gas prices sharply higher which, if sustained, could also put further upward pressure on supply costs to Ireland.
Norway’s Gassco, the state-owned pipeline operator, said on Tuesday that “in a worst-case scenario, deliveries to the UK could stop totally”, with striking workers planning to extend the shutdowns on Saturday to a key distribution hub that supplies the UK.
Norway is the UK’s largest source of gas, according to industry body Offshore Energies UK, overtaking domestic production for the first time last year to meet 42 per cent of all UK demand. Norway also supplies about 25 per cent of total European gas.
https://www.irishtimes.com/business/economy/2022/07/05/norway-strikes-threaten-to-cut-off-gas-supplies-to-uk-within-days/
Whilst this article and IEA comments are directed towards the UK, they certainly should not be overlooked by Ireland’s government and specifically Eamon Ryan and his colleagues at the DECC, a wake up moment is fast approaching and serious decisions need to be taken before the EU scramble to be fit for winter,…GL S
“Norwegian gas strike shows the danger of the UK’s dithering on domestic drilling, says IEA energy analyst”
“Today’s strike by Norwegian oil & gas workers in the North Sea, and the consequent surge in European gas prices, reminds us of the danger of the UK government’s dithering on fracking and imposition of a windfall tax.
“The EU is dependent on Russia for around 40 per cent of it’s gas imports, with Norway responsible for a further 20-25 per cent. Both countries are throttling supply which will endanger efforts to build reserves for the winter and provoke an even more extreme crisis than the one expected.
“The UK, while not dependent on Russia, is highly exposed to Norwegian supply. They provide us with about 40 per cent of our gas supply, and we have no serious reserves to offset disruption from short strikes.
“Longer disruption from a protracted dispute will force the government to pay British industry to shut down, and presents a significant risk to domestic heating supplies this winter.”
https://iea.org.uk/media/norwegian-gas-strike-shows-the-danger-of-the-uks-dithering-on-domestic-drilling-says-iea-energy-analyst/