Netherlands Oil & Gas 2007 OGI Release

Authors

L

Authors

L

It is typical of the Dutch to remain so quiet and modest that it is often forgotten that the Netherlands is a major energy-producing country. Its diminutive size and no-nonsense approach rarely make waves, but Holland is Europe’s second-largest producer of natural gas and the ninth-largest in the world with estimated reserves of between 50 and 60 trillion cubic feet. The country contributes 30% of the European Union’s total gas production. Despite the term “Dutch disease” being coined to illustrate the potential damage a bonanza of natural resources can have on a healthy economy, reflecting the situation in Holland in the 1960s, today Holland is, as it almost always was, a healthy and open economy, outperforming its neighbors and leading the way in terms of economic reform.

It is typical of the Dutch to remain so quiet and modest that it is often forgotten that the Netherlands is a major energy-producing country. Its diminutive size and no-nonsense approach rarely make waves, but Holland is Europe’s second-largest producer of natural gas and the ninth-largest in the world with estimated reserves of between 50 and 60 trillion cubic feet. The country contributes 30% of the European Union’s total gas production. Despite the term “Dutch disease” being coined to illustrate the potential damage a bonanza of natural resources can have on a healthy economy, reflecting the situation in Holland in the 1960s, today Holland is, as it almost always was, a healthy and open economy, outperforming its neighbors and leading the way in terms of economic reform.

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