 |
Louisiana Light • 1 day | 86.60 | -0.08 | -0.09% | ||
|
Bonny Light • 1 day | 88.73 | -1.64 | -1.81% | ||
|
Opec Basket • 1 day | 87.35 | -2.29 | -2.55% | ||
|
Mars US • 168 days | 77.67 | -1.57 | -1.98% | ||
|
Gasoline • 12 mins | 2.706 | -0.008 | -0.29% |
|
Bonny Light • 1 day | 88.73 | -1.64 | -1.81% | ||
|
Girassol • 1 day | 89.30 | -1.63 | -1.79% | ||
|
Opec Basket • 1 day | 87.35 | -2.29 | -2.55% |
|
Peace Sour • 3 hours | 75.30 | -0.05 | -0.07% | ||
|
Light Sour Blend • 3 hours | 78.35 | -0.05 | -0.06% | ||
|
Syncrude Sweet Premium • 3 hours | 85.30 | -0.05 | -0.06% | ||
|
Central Alberta • 3 hours | 75.70 | -0.05 | -0.07% |
|
Eagle Ford • 1 day | 79.21 | +0.04 | +0.05% | ||
|
Oklahoma Sweet • 1 day | 79.25 | +0.00 | +0.00% | ||
|
Kansas Common • 2 days | 73.00 | -2.50 | -3.31% | ||
|
Buena Vista • 2 days | 86.86 | -2.40 | -2.69% |
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Norway Ramps Up Natural Gas Production To Combat Energy Crisis
Norway’s authorities have approved applications from operators to boost production from several gas fields, the Norwegian Ministry of Petroleum and Energy said on Monday, expecting record gas sales via pipelines to Europe this year.
The ministry heeded applications from operators on the shelf and allowed higher gas production from the Troll, Gina Krog, Duva, Oseberg, Åsgard, and Mikkel fields. The Energy Ministry has also granted a production permit for the Nova gas field, which is expected to start up in the near future.
The permits for higher gas production mean that Norway is on track to export record volumes of gas through its pipeline system this year, the ministry said.
Norway’s decision to allow higher gas production and record gas exports comes as its partners, the EU and the UK, scramble for gas supply ahead of the winter, which could be one of rationing for some industries and even households if Russian pipeline gas supply to Europe stops.
Norway’s gas fields supply 20-25 percent of the gas demand in the EU and the UK, according to the Norwegian ministry.
The most important thing Norway can do in today’s challenging energy situation for Europe and the world is to facilitate companies operating on the Norwegian Continental Shelf to keep the current high production, Petroleum and Energy Minister Terje Aasland said in a statement today.
Companies are constantly assessing opportunities for delivering more gas and oil from their Norwegian fields. “The higher production permits will contribute to the record-high gas sales we expect through our gas pipeline system this year,” Aasland added.
Gas prices in Europe have returned to rally in recent weeks after Russia slashed gas deliveries in the middle of June to major customers in Europe, including Germany and Italy. Germany has already activated stage two of a three-phase emergency protocol concerning gas supply, as Europe’s biggest economy and the whole of Europe are racing to fill gas storage capacities ahead of the winter.
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By Josh Owens for Oilprice.com
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Josh Owens
Josh Owens is the Content Director at Oilprice.com. An International Relations and Politics graduate from the University of Edinburgh, Josh specialized in Middle East and…
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