Norway

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
Equinor’s Hammerfest LNG in Norway Shut Down by Fire, Adding to Supply Crunch

Equinor’s Hammerfest LNG in Norway Shut Down by Fire, Adding to Supply Crunch

A fire that broke out Monday at Equinor ASA’s Hammerfest liquefied natural gas (LNG) terminal in northern Norway has forced the company to shut down the plant indefinitely, compounding unplanned supply outages elsewhere in the world.  The fire broke out in one of the turbines that power the 4.3 million metric tons per year (mmty)…

September 30, 2020
Norway’s $1T Sovereign Fund to Dump E&P Stocks

Norway’s $1T Sovereign Fund to Dump E&P Stocks

The government of Norway on Friday proposed dropping a who’s who of U.S. independents from its estimated $1 trillion pension fund to reduce the “aggregate oil price risk” to the economy. Integrated producers, many with substantial renewables businesses, would not be impacted.

March 8, 2019

Big FIDs on Horizon for LNG, Deepwater as Costs Decline, Says Wood Mackenzie

As oil and gas operators become “leaner and meaner,” they are reducing the size of projects and their costs, with a number of big investment decisions on the horizon, according to Wood Mackenzie.

April 5, 2018
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