Dutch to lose 1.5b in gas production cut in EU�s biggest field

AFP, THE HAGUE: A cut-back in natural gas production in the EU’s biggest gas field will cost the Netherlands a billion-and-a-half euros in lost revenue, Dutch Finance Minister Jeroen Dijsselbloem said Friday.
“It’s going to cost around 1.5 billion euros ($1.62 billion) next year, Dijsselbloem told the NOS public newscaster after a cabinet meeting.
“This mainly relates to a decision by the Council of State to close the gas valves quicker than expected,” he said, referring to the government’s top advisory body.
The Council last month ordered The Hague to review extraction of natural gas from the field, following a series of earth tremors causing residents in the northern Dutch province to fear for their lives.
It temporarily limited extraction to 27 billion cubic metres for 2016.
Dutch Economics Affairs Minister Henk Kamp confirmed Friday that the government will stick to the figure after government initially demanding a maximum of 33 billion cubic metres.
“We are closing the gas taps and are taking measures to ensure that in future we are less dependent on Groningen’s gas for our energy needs,” Kamp told a press conference.

Dutch to lose 1.5b in gas production cut in EU�s biggest field

AFP, THE HAGUE: A cut-back in natural gas production in the EUs biggest gas field will cost the Netherlands a billion-and-a-half euros in lost revenue, Dutch Finance Minister Jeroen Dijsselbloem said Friday. Its going to cost around 1.5 billion euros ($1.62 billion) next year, Dijsselbloem told the NOS public newscaster after a cabinet meeting. This mainly relates to a decision by the Council of State to close the gas valves quicker than expected, he said, referring to the governments top advisory body. The Council last month ordered The Hague to review extraction of natural gas from the field, following a series of earth tremors causing residents in the northern Dutch province to fear for their lives. It temporarily limited extraction to 27 billion cubic metres for 2016. Dutch Economics Affairs Minister Henk Kamp confirmed Friday that the government will stick to the figure after government initially demanding a maximum of 33 billion cubic metres. We are closing the gas taps and are taking measures to ensure that in future we are less dependent on Groningens gas for our energy needs, Kamp told a press conference.