Daily Management Review

Equinor: Norway's ability to increase gas supplies for Europe is exhausted


Norway has no opportunities to further increase gas supplies to Europe, said the head of the Norwegian oil and gas group Equinor Anders Opedal.

"There is nothing more we can do. Norway is already operating at the capacity limit," Opedal told Bloomberg. He notes, however, that Equinor accounts for more than 20 percent of Europe's gas supply.

Earlier in February, Josep Borrell, head of EU diplomacy, said that the EU was in contact with the U.S., Norway, Qatar, Azerbaijan, Algeria and other countries about expanding LNG supplies.

European Commission head Ursula von der Leyen said on Feb. 4 that Russian Gazprom, by fulfilling its obligations under contracts with European partners, "does the bare minimum" and reproached the company for not proactively increasing its supply volumes. At the same time, von der Leyen admitted that Europe is not threatened by supply shortages as long as the supplier fulfills its obligations.

source: bloomberg.com