Natural gas prices in Europe have soared by 30% due to the closure of the largest Groningen gas field in the Netherlands. This decision was made after a series of earthquakes that damaged thousands of homes. Although a final decision has not yet been made, the official closure of the field is expected after a government meeting at the end of June. This deposit is the oldest in the country and it has been in operation for 60 years. This news caused a significant increase in gas futures prices, and then prices stabilized and rose by 10%, reaching 42.16 euros per megawatt hour. The closure of Groningen is due to frequent earthquakes caused by gas extraction, which have led to the destruction of thousands of homes in the region since the 1980s. Plans to close the field were accelerated after a vote of no confidence in Prime Minister Mark Rutte and accusations of an ineffective government response to the problems. The Groningen field will operate at minimum levels until the final closure and about 2.8 billion cubic meters of gas will still be produced.
