Authorities in the Netherlands have proposed more production cuts in the Groningen gas field, Europe’s largest, in response to earthquake concerns. The cuts would limit production by another 10%, in addition to cuts that have already taken effect, with intent to further reduce the number of earthquakes occurring in the country’s north.
For decades, the Groningen has been a key industry asset, successfully developed by major players in the oil and gas space. However, in the early nineties, the region—one with no previous history of earthquakes—began experiencing seismic activity. The number of earthquakes grew until 2013, and the Dutch government … Continue Reading