Almost 60 years after the start of gas extraction in Groningen, the Netherlands, it is finally clear what amount this has yielded. In total, adjusted for inflation, a profit of €428 billion was made, of which the state received €363.7 billion via remittances and profits from state participation.
That is apparent calculations by shareholder Shell, which have been viewed by Het Financieele Dagblad.
The Nederlandse Aardolie Maatschappij (NAM), operator of the Groningen field, received the remaining €64.7 billion and paid it out as a dividend to shareholders Shell and ExxonMobil.
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Until now, how much money was earned with Groningen gas has remained a secret, given the annual accounts of the Groningen Partnership were not shared publicly.
Gas shortage
With soaring inflation and gas prices that are seemingly rising infinitely, the indefinite closure of the Russian-German gas pipeline Nord Stream 1 has caused prices to go up yet another 30%, leaving the continent with a severe crisis due to gas prices. On 1 September, European gas prices were 10 times higher than in Asia.
Russia did say it wants to send gas to Europe through different pipelines.
