Norway’s natural gas production and exports to Europe could hit record levels this year, as state-owned Equinor and other Norwegian Continental Shelf (NCS) producers take advantage of the persistently high gas price environment and Europe-wide anxiety over disruptions to pipeline flows from Russia.
In the first four months of 2022, Norway produced just under 41 Bcm of gas compared with 39 Bcm in the same period last year, according to figures from the Norwegian Petroleum Directorate (NPD). The NPD forecasts that Norway will produce around 123 Bcm this year, compared with around 115 Bcm in 2021, and around 1 Bcm higher than the record 122 Bcm in 2017. But there are limits to how much more gas Norway can produce in response to Europe’s energy crisis.
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