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Norway Gas Production Rose 8% YoY In 2022

NATURAL GAS

Norway’s gas production rose by around 8% on the year to 122bcm in 2022 as authorities granted permits to increase production from several fields, according to the Norwegian Petroleum Directorate (NPD).

  • Norway’s gas production stood at 122bcm in 2022, compared with 113bcm in 2021.
  • Gas production is estimated to remain at 2022 levels for the next four to five years.
  • The disappearance of Russian gas on the European market led to greater demand for Norwegian gas, which caused Norway to become the largest gas supplier to Europe by the end of last year.
  • Production increased because authorities granted permits to increase production from several fields, there was a high degree of operational stability and Snohvit came back online after a lengthy shutdown.
  • The authorities also approved new projects last year amounting to a growth in reserves of 252mcm of oil equivalent, half of which is gas.
Energy BulletsCommodities
Energy BulletsCommodities

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