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Norway and EU to Step Up Gas Commitments

NATURAL GAS

Norway and the European Commission released a joint statement today noting they will "step up cooperation in order to ensure additional short-term and long-term gas supplies from Norway," in light of the Russian energy situation.

  • "There is strong potential for increased sales to Europe in 2022, bringing close to 100 TWh of extra energy to the European market," the statement adds.
  • Norway will remain a "large supplier" to Europe beyond 2030. The EU expressed support to Norway towards increasing its oil and gas exploration to help the regions energy security.
  • Norway expects gas sales to rise by 8% to 122 billion cubic metres this year. Almost all of the increased portion of the volumes are destined for the European market.
Energy BulletsCommodities
Energy BulletsCommodities

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