Norway

Norway Natural Gas Output Forecast to Remain Strong Until 2030

Norway Natural Gas Output Forecast to Remain Strong Until 2030

The 122 billion cubic meters (Bcm) of natural gas that Norway produced in 2022 is projected to continue at the same level for the “next four to five years,” a relief for Europe as it seeks to replace Russian gas, according to the Norwegian Petroleum Directorate (NPD). “The disappearance of Russian gas on the European…

January 12, 2023
Equinor Submits Plans to Continue Hammerfest LNG Exports Beyond 2030

Equinor Submits Plans to Continue Hammerfest LNG Exports Beyond 2030

Equinor ASA said it would invest $1.3 billion along with its partners in the Hammerfest LNG terminal to extend the life of the Norwegian plant and cut emissions significantly. The company has submitted its development plan to Norway’s Ministry of Petroleum and Energy to add onshore compression and electrify the terminal. It’s aiming to have…

December 23, 2022
Equinor Targets Deepwater Norwegian Natural Gas Field to Boost Euro Supply

Equinor Targets Deepwater Norwegian Natural Gas Field to Boost Euro Supply

Equinor ASA has submitted a plan to Norwegian regulators outlining a $14 billion-plus project for the country’s first planned deepwater development to boost long-term natural gas supply to Europe. Equinor and its partners told regulators they could tap the Irpa gas field in the Vøring Basin deep below the Norwegian Sea. Discovered in 2009 and…

November 23, 2022
Norwegian Natural Gas Output Surging, with Eyes on Aiding European Shortfall

Norwegian Natural Gas Output Surging, with Eyes on Aiding European Shortfall

Norway plans to increase natural gas production through the summer to help meet European Union (EU) demand and fill the void left by declining Russian deliveries.   Equinor ASA said its Norwegian exports to the rest of Europe increased by 18% year/year in the second quarter. Norway is Europe’s second largest gas supplier behind Russia, which…

July 28, 2022

Norwegian Production Outage Continues, Keeping European Natural Gas Prices Elevated – The Offtake

A roundup of news and commentary from NGI’s LNG Insight An unplanned outage at Norway’s Sleipner natural gas field in the North Sea continued Wednesday.  Norwegian transmission system operator Gassco said the outage is expected to end by Friday (July 15). Another unplanned outage at the Nyhamna processing facility that’s also impacted gas exports to…

July 13, 2022
Norwegian Production Outage Again Sends European Natural Gas Prices Higher

Norwegian Production Outage Again Sends European Natural Gas Prices Higher

European natural gas prices seesawed again Tuesday, jumping on news that leaks at a Norwegian gas field would cut more than 2 Bcf/d of supplies for the continent until they’re fixed. The issues are expected to be resolved quickly, but European gas markets are on edge after Russia’s Nord Stream 1 pipeline was taken offline…

July 12, 2022
Oil and Gas Strike in Norway Ends, But TTF Rally Continues

Oil and Gas Strike in Norway Ends, But TTF Rally Continues

Another crisis for Europe’s gas market was avoided late Monday after the Norwegian government intervened to stop a strike that could have significantly cut production from some of the country’s most critical gas fields. Norway’s Labor Ministry announced late Tuesday that the government took emergency action to intervene in the flagging negotiations between the Lederne…

July 6, 2022
Equinor Cleared to Keep Norwegian Natural Gas Output Near Capacity to Aid European Supplies

Equinor Cleared to Keep Norwegian Natural Gas Output Near Capacity to Aid European Supplies

Norwegian regulators have approved revised production permits allowing Equinor ASA and its partners to continue pumping natural gas near maximum levels for export to Europe, as the continent looks to cut its dependence on Russian supplies.  Fields on the Norwegian Continental Shelf have been operating near maximum capacity amid strong demand and a war between…

March 17, 2022
ConocoPhillips Touts Second ‘Significant’ Discovery Offshore Norway in As Many Months

ConocoPhillips Touts Second ‘Significant’ Discovery Offshore Norway in As Many Months

ConocoPhillips on Tuesday announced a new oil find offshore Norway that it estimated could generate between 75 million and 200 million recoverable boe. It marked the second “significant” discovery in the region in as many months, the company said, building upon earlier successes near Norway. The latest discovery well was drilled in 1,165 feet of…

December 22, 2020
Equinor Sets Net-Zero Emissions Goal, Sees Writedowns in E&P on Low Commodity Prices

Equinor Sets Net-Zero Emissions Goal, Sees Writedowns in E&P on Low Commodity Prices

Equinor SA on Monday set a goal to become a net-zero energy operator in 30 years, joining goals set out by fellow European-based oil and natural gas majors. The Norway-based energy major still expects to deliver production growth of around 3% on average from 2019 to 2026 through “competitive and resilient projects.” The net-zero ambition…

November 3, 2020
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