A liquefied natural gas (LGL) plant in Norway did not start up on the planned schedule, according to the Norwegian gas transmission operator Gassco. The Hammerfest LNG facility in northern Norway experienced a halt in operations following a leak detected during routine procedures. The initial forecast for resuming operations was June 7, but the timetable was later extended by one week to June 14, signaling that engineers needed additional time to verify safety and restore normal cooling functions.
On May 31, Equinor, the Norwegian oil and gas company overseeing the Hammerfest LNG plant, confirmed that the gas leak had been stopped. Despite this, pinpointing an exact date for full business resumption remained challenging, as teams assessed the status of the cooling system and identified a valve malfunction in one of the cooling unit circuits as the root cause.
The shutdown of the Hammerfest LNG plant contributed to a noticeable reaction in European gas markets, with prices rising sharply by about 10 percent, translating to more than $300 per thousand cubic meters as traders priced in the potential reduction of LNG supply from the facility.
Industry observers have noted that while European gas markets faced volatility last year due to anticipated winter shortages, the current year has seen a more relaxed sentiment in part because of clearer supply expectations and diversified import options. Analysts emphasize that ongoing monitoring of LNG infrastructure and global gas flows remains essential for understanding price dynamics and energy security in Europe.