• 3 minutes Will Iron-Air batteries REALLY change things?
  • 7 minutes Natural gas mobility for heavy duty trucks
  • 11 minutes NordStream2
  • 5 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 hours U.S. Presidential Elections Status - Electoral Votes
  • 14 hours Evergrande is going Belly Up.
  • 5 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 20 hours Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 4 days Poland Expands LNG Powered Trucking and Fueling Stations
  • 4 days World’s Biggest Battery In California Overheats, Shuts Down
  • 3 days The unexpected loss of output from wind turbines compels UK to turn to an alternative; It's not what you think!
  • 9 hours Forecasts for Natural Gas
  • 2 days Ten Years of Plunging Solar Prices
  • 3 days Extraction of gasoline from crude oil.

Norway Expects Gas Exports 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 (LNG) 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 supplies around 25 percent of the gas demand in the European Union (EU).

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 today. 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 for Europe’s no.1 gas supplier, with Russia ahead with around one-third of European gas supplies.

About 95 percent of Norwegian gas is transported via a network of subsea pipelines to other European countries, while about 5 percent is exported as LNG by ship from the Melkøya 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 percent and 40 percent 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. This makes 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.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News