• 4 minutes Trump will meet with executives in the energy industry to discuss the impact of COVID-19
  • 8 minutes Charts of COVID-19 Fatality Rate by Age and Sex
  • 11 minutes Why Trump Is Right to Re-Open the Economy
  • 13 minutes Its going to be an oil bloodbath
  • 6 hours While China was covering up Covid-19 it went on an international buying spree for ventilators and masks. From Jan 7th until the end of February China bought 2.2 Billion masks !
  • 1 hour Ten days ago Trump sent New York Hydroxychloroquine. Being administered to infected. Covid deaths dropped last few days. Fewer on ventilators. Hydroxychloroquine "Cause and Effect" ?
  • 41 mins US Shale Resilience: Oil Industry Experts Say Shale Will Rise Again
  • 9 hours Real Death Toll In CCP Virus May Be 12X Official Toll
  • 11 hours China Takes Axe To Alternative Energy Funding, Slashing Subsidies For Solar And Wind
  • 1 hour Which producers will shut in first?
  • 9 hours Marine based energy generation
  • 13 hours Today 127 new cases in US, 99 in China, 778 in Italy
  • 8 hours What If ‘We’d Adopted A More Conventional Response To This Epidemic?’
  • 9 hours How to Create a Pandemic
  • 10 hours Apple to Bypass Internet and Beam Directly to Phones
  • 1 day TRUMP pushing Hydroxychloroquine + Zpak therapy forward despite FDA conservative approach. As he reasons, "What have we got to lose ?"
Standard Chartered Sees Record Oil Demand Loss This Year

Standard Chartered Sees Record Oil Demand Loss This Year

Lockdowns and travel restrictions will…

Big Oil Raises Debt To Ride Out Price Crash

Big Oil Raises Debt To Ride Out Price Crash

As prices crashed, the supermajors…

Norway’s Gas Exports Plunge On Low Prices, Heavy Maintenance

Offshore norway

Norway’s natural gas exports via pipelines to Europe plunged in September to their lowest volume in 15 years, as operators scale back flows amid decade-low prices in Europe and as many fields underwent routine maintenance last month.

According to data from S&P Global Platts Analytics and the Norwegian Petroleum Directorate (NPD), Norway’s pipeline natural gas exports to Europe, including the UK, stood at 4.59 Bcm last month. This was the lowest volume of exports in a month since August of 2004, S&P Global Platts Analytics says.

Maintenance on the huge Troll gas field in the Norwegian Continental Shelf (NCS) and additional commercial turndown at Troll were responsible for a large part of the reduced exports. Other fields offshore Norway also underwent planned maintenance in September, so the output and flows from Oseberg, Gina Krog, Ormen Lange, Sleipner, Kvitebjorn, Aasta Hansteen, and Visund was also down. Adding to this, outages at Asgard and Gullfaks also reduced Norwegian exports.

Commercial reasons were also key to the lowest Norwegian gas exports to Europe in 15 years.

Natural gas prices in Europe fell in the summer to their lowest level in a decade, and prices are set to drop even lower.

Storage facilities across the continent are fuller than usual for this time of the year. Thanks to the lowest natural gas prices in a decade, storage tanks in many European countries are higher than the five-year average well ahead of the coming heating season. Traders continue to ship liquefied natural gas (LNG) cargos to Europe, potentially waiting for trading opportunities when the winter season approaches and prices rise. 

The winter heating season in October is set to begin with temperatures around or above seasonal norms, early forecasts suggest.

Norway supplies around 25 percent of the European Union’s (EU) gas demand, and is the second largest EU gas supplier behind Russia which has a 33-percent share, Norwegian government figures show.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage




Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News