In order to reduce the reliance on Russian energy imports, Germany and Netherlands are making plans to commence new gas production in the North Sea. The German state of Lower Saxony and Dutch energy company ONE-Dyas BV proposed to pump natural gas from undersea deposits 20 kilometers north of the German island of Borkum and Schiermonnikoog. A final investment decision is expected by summer, and drilling could kick off by the end of 2024 as stated by ONE Dyas.
An ongoing payment dispute has prompted Russia to stop supplies to Poland and Bulgaria, adding urgency to political efforts to reduce exposure to Moscow. Hence Germany has reduced its dependency on securing emergency shipments of liquefied natural gas from 50% to 30% last year.
The Netherlands plans to end its imports of Russian gas by the end of this year. While its gas deposits could help its neighbor, it’s planning to wind down its giant Groningen field after Dutch cities suffered damage from earthquakes triggered by drilling.
The North Sea exploration area would help fill the Russian gap, with the potential to produce as much as 4 billion cubic meters annually, according to Lower Saxony. The supplies will be divided between the Netherlands and Germany.
The plan is now awaiting approval by Lower Saxony’s parliament, which is expected by end of this month, a ONE-Dyas spokesman said. The company is also expecting to get a nod from Dutch authorities in the next couple of weeks. After that, it will still have to go through permitting processes in both countries.
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