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NATURAL GAS
Norwegian natural gas exports hit a record high of 128.4 billion crowns ($13.26 billion) in July Norway's statistics office said today.
- Natural gas revenues were four times higher than for July last year, while the volume of gas sold rose by 5.7% to 10.2 billion cubic metres.
- July gas export revenues exceeded the previous record, set in March, by 14.3%, the statistics office said, adding that the value of Norwegian oil exports also rose 52.1% from a year ago to 48.7 billion crowns.
- Norway in July exported 4.8 billion crowns worth of electricity via international cables, including to Britain and Germany.
- Norwegian gas has soared in demand in Europe as an alternative to Russian flows while weak flows through Nord Stream 1 have caused both European gas an electricity prices to soar to record levels.
Source - Norwegian Statistics Office
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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