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Norwegian Gas Exports to Europe Hit 10-month High: Platts

NATURAL GAS

Norway’s pipeline exports to mainland Europe and the UK hit a 10-mnth high in November, with supplies currently running at near capacity, according to Platts.

  • Total November deliveries were 9.85 Bcm, up 8% on the month and 6% on the year. This is the highest monthly volume since January.
  • There is almost no planned maintenance left in Norway before Feb 2024, making strong Norwegian supplies crucial for the Europe to meet its winter demand.
  • While November flows are up on the month, exports across the first 11 months of 2023 were 94.1 Bcm, down 9 Bcm on 2022 levels.
  • This is due to heavy planned maintenance during the summer, much of which was deferred because of the pandemic and then the gas crisis in 2022.

Source: S&P Global Commodity Insights

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