The European gas market experienced a significant fluctuation in price followed by a drop. During the changes it had reached its highest level in 2024, attributed to an outage at a Norwegian gas processing plant. This incident underscores Norway’s critical position as a major gas supplier following the reduction in Russian imports, which were curtailed after Moscow’s invasion of Ukraine in 2022. Norway now stands as the single largest supplier of natural gas to Europe, accounting for 30% of the bloc’s supplies last year. Consequently, any unplanned outages in Norwegian gas infrastructure tend to evoke sharp market reactions, highlighting the market’s sensitivity to disruptions. Despite Europe boasting comfortable levels of gas storage, with EU storage sites being over 70% full…