Norway eyes high gas output until 2030, as Europe aims to ditch Russian supplies

Europe plans to ditch Russian gas imports over Moscow’s invasion of Ukraine. PHOTO: REUTERS

OSLO (REUTERS) - Norway plans to maintain its current high gas production level until the end of the decade as Europe plans to ditch Russian imports over Moscow's invasion of Ukraine, Norway's energy minister said on Tuesday (Aug 23).

"I expect that we can maintain the production levels we are at now until 2030," Terje Aasland told Reuters in an interview.

"We see that there are projects and also plans for development and operation coming now that can help maintain the high gas volumes going forward," he said.

The Nordic country is expected to produce some 122 billion cubic metres (bcm) of gas this year according to official forecasts made in May, an increase of 8 per cent from 2021, possibly beating a record set five years ago.

The Norwegian Petroleum Directorate predicted in January that gas output would reach 118 bcm in 2026, which is the latest year forecast by the regulator, below current levels.

Norway is now Europe's biggest supplier of gas according to Refinitiv Eikon data, overtaking Russia, which has cut back on its gas deliveries.

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