Norway eyes high gas production until 2030, energy minister

Norway eyes high gas production until 2030, energy minister

Norway plans to maintain its current high level of gas production until the end of the decade, at a time when Europe plans to dump Russian imports due to Moscow’s invasion of Ukraine, the country’s energy minister said on Tuesday. Nordic.

“I hope we can maintain the production levels we are at now until 2030,” Terje Aasland told in an interview.

“We see that there are projects and also plans for development that can help maintain high volumes of gas in the future,” he said.

The Nordic country would produce some 122 billion cubic meters of gas this year according to official forecasts made in May, an increase of 8% from 2021, possibly surpassing a record set five years ago.

The Norwegian Petroleum Directorate predicted in January that gas production would reach 118 billion cubic meters in 2026, which is the last year forecast by the regulator, below current levels.

Norway is now Europe’s largest gas supplier according to Refinitiv Eikon data, overtaking Russia, which has reduced its gas deliveries.

Melissa Galbraith
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