Norway seeks to maintain its high level of gas production until the end of the current decade, at a time when Europe intends to abandon Russian imports due to its “military operations” in Ukraine.
“I expect that we will be able to maintain the production levels we are at now until 2030,” Norway’s Energy Minister Terje Osland said in an interview with Reuters.
“We see that there are projects and plans for development and operation coming now that can help maintain high gas quantities in the future,” he said.
Norway is expected to produce about 122 billion cubic meters of gas this year, according to official forecasts issued in May, an increase of eight percent over 2021, and may exceed the record set five years ago.
The Norwegian Petroleum Directorate forecast in January that gas production would reach 118 billion cubic meters in 2026, or below current levels.
Last July, the value of Norway’s natural gas exports hit a record high of 128.4 billion crowns ($13.26 billion), with increased demand from Europe.
The Norwegian Statistics Office said in a statement, mid-month, that natural gas revenues rose for July 2022 four times than they were in July last year, while the volume of gas sold rose 5.7 percent to 10.2 billion cubic meters.
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