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NATGAS: Norwegian Gas Production Expected to Slip in 2025

NATGAS
Energy BulletsBulletPower BulletsCommodities

Norwegian gas production rose by 6.9% in 2024 y/y to a record 124 bcm  but it is expected to ease slightly in 2025 according to the Norwegian Offshore Directorate (NOD)  on Thursday.

  • The NOD forecast that Norway will produce 120.4 bcm of gas in 2025, a decline of 2.9% y/y, and remaining at near this level until 2027 before a further dip to 110.8 bcm in 2029.
  • The NOD has called for more exploration and drilling to halt the decline, particularly now Norway is the biggest gas supplier for Europe. 
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Norwegian gas production rose by 6.9% in 2024 y/y to a record 124 bcm  but it is expected to ease slightly in 2025 according to the Norwegian Offshore Directorate (NOD)  on Thursday.

  • The NOD forecast that Norway will produce 120.4 bcm of gas in 2025, a decline of 2.9% y/y, and remaining at near this level until 2027 before a further dip to 110.8 bcm in 2029.
  • The NOD has called for more exploration and drilling to halt the decline, particularly now Norway is the biggest gas supplier for Europe.