Norway Expects Gas Export Prices to Fall in 2019
Norway Expects Gas Export Prices to Fall in 2019

Norway Expects Gas Export Prices to Fall in 2019

Norway Expects Gas Export Prices to Fall in 2019

Norway expects its gas export prices to drop next year from the 2017 and 2018 levels, as Europe will buy more liquefied natural gas from other sources, the Norwegian government said in its revised 2018 budget on Tuesday.
Norway, which exports almost all the gas it produces, is the third largest exporter of natural gas in the world and meets around 25% of the gas demand in the European Union, Oil Price reported.
Gas export prices will go up slightly this year compared to 2017, but will drop in 2019, because of increased buying of LNG cargoes in Europe, Norway’s government said on Wednesday. The long-term gas export price is expected to stabilize at a higher level than the projected price for 2019.
The slight rise in Norway’s 2018 gas export prices will be due to high coal prices, reduced gas storage capacity in Europe and low access to hydro and nuclear power, according to the Norwegian government.
Norway is competing with Russia to become Europe’s top gas supplier, with Russia ahead with around one-third of European gas supplies. About 95% of Norwegian gas are transported via a network of subsea pipelines to other European countries, while about 5% are exported as LNG by ship from the Melkoya facility in Finnmark.
Most Norwegian gas sold on the European market is delivered to Germany, the UK, Belgium and France, where Norwegian gas accounts for between 20% and 40% of total gas consumption.
Nearly all oil and gas produced on the Norwegian Continental Shelf is exported, and combined, oil and gas exports account for around half of the total value of Norwegian exports of goods. These make oil and gas the most important export commodities in the Norwegian economy.
Norway’s gas production rose last year for a fourth year in a row and gas sales hit a record high, according to Norwegian Petroleum. Production is expected to remain high over the next few years.


Short URL : https://goo.gl/4xKGDm
  1. https://goo.gl/KsaqHT
  • https://goo.gl/LHcFer
  • https://goo.gl/mdVeLL
  • https://goo.gl/JuFEKu
  • https://goo.gl/EvWZ9H

You can also read ...

Chevron to Develop Iraqi Oilfields
Iraq’s state-run Basra Oil Company and Chevron, an American...
Caspian Convention Can Help Boost Iran Oil, Gas Exports
The Convention on the Legal Status of the Caspian Sea will...
Venezuelan Refineries in Danger of Seizure
In 2007, following Venezuela’s expropriation of billions of...
China Tariffs to Darken Prospects of US LNG
This winter could be a bleak one for America’s natural gas...
Spanish Esproenko to Continue Iran Business
Esproenko International, which specializes in oil and gas...
OPEC Should Remain Independent, Apolitical
Some members of the Organization of Petroleum Exporting...
NIGC Export Capacity at 75 mcm Per Day
The National Iranian Gas Company’s capacity to export natural...
Higher Electricity Tariffs Should Moderate Usage
Imposing higher tariffs on those who exceed fair consumption...

Add new comment

Read our comment policy before posting your viewpoints