Norway to Boost Natural Gas Exports

Tuesday, June 26, 2007
According to OilWeek, Norway plans to increase its natural gas supplies to the European Union by up to 55 per cent by the middle of the next decade, the EU‘s energy commissioner said Monday. The EU is pushing Norway to boost its gas supplies so the 27-member bloc can reduce its dependence on Russian oil and gas. Norway, which is not an EU member, has made a fortune on oil and gas deposits in the North Sea and is now exploring new finds in the Barents Sea it uneasily shares with Russia. Piebalgs said gas supplies from Norway could grow to 125-140 billion cubic metres per year by the middle of the next decade, up from the current 90 billion cubic metres. Norwegian oil minister Odd Roger Enoksen said gas exports would increase later this year when new offshore fields come on line, including Ormen Lange in the North Sea and Snoehvit in the Barents. Source: OilWeek

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