Daily Management Review

Norway expects to deliver record gas volumes to Europe this year


According to Frode Leversund, CEO of Norwegian gas transport firm Gassco, Norway will supply record amounts of gas to Europe this year.

Over the coming years, Norway will also export sizable amounts of gas to the EU.

This year, Norway surpassed Russia to become the major gas supplier to Europe, according to Refinitiv Eikon. Gassco reports that this year's Norwegian gas exports to Europe climbed by 4.97 billion cubic meters, the equivalent to 60 terawatt hours.

Due to scheduled maintenance, Norway's export capacity will be decreased in September, but on October 1 the nation's gas transportation system "shall be ready for the onset of winter," according to Leversund.

He claims that in 2022, as opposed to 113.2 billion cubic meters the previous year, the supply of pipeline gas from Norway to Europe might reach a record 117 billion cubic meters.

Norway will be able to guarantee sustainably high supply quantities in the upcoming two or three years with a similar amount of technical work, he added.

source: oilprice.com