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Norway Displaces Russia As Europe's Biggest NatGas Supplier

Norway Displaces Russia As Europe's Biggest NatGas Supplier
Tyler Durden's Photo

ZeroHedge - BY TYLER DURDEN - TUESDAY, AUG 30, 2022

The European Union is reducing its dependence on Russian natural gas and has made some progress. Norway has displaced Russia as the top supplier of NatGas to the EU as energy supply chains are rejiggered, reported Reuters, as Moscow reduces flows to EU countries via the Nord Stream 1 pipeline.

According to government data in May, Norway ramped up NatGas production by at least 8% versus last year. This means the Scandinavian country could produce upwards of 122 billion cubic meters (bcm) of NatGas this year.

Refinitiv Eikon data show Norway is now the largest supplier of NatGas to Europe, surpassing Russia, which has slashed Nord Stream capacity to just 20%. By Wednesday, the pipeline will undergo a surprise three-day shutdown for 'maintenance' work.

Norwegian petroleum & energy minister Terje Aasland expects production levels can be sustained through the decade as new projects are coming online. This is undoubtedly a relief for the energy-stricken continent.

"I expect that we can maintain the production levels we are at now until 2030.

"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," Terje Aasland told Reuters in an interview.

The energy minister said diversification of EU's Natgas supplies away from Russia is critical. He said, "this is an important message to get from the EU."

Increasing flows from Norway also come as European Natas prices have tripled and repeatedly hit new records this summer. Though prices plunged on Monday from all-time highs reached last week following news Germany was ahead of schedule in filling up storage facilities ahead of winter.

"In principle, the market is predictable. When there is scarcity, prices are high. That also contributes to increasing production and steers the gas to the markets that need it most," Aasland said.

Despite Norway's largest oil and gas producer, the majority state-owned Equinor, boosting renewable energy and low-carbon technologies investments, it will also increase hydrocarbon exploration projects to meet EU demand.

Europe's ability to unlock partial energy independence could be through Norway, as the oil-rich nation is now the largest supplier of NatGas to the continent and could be on track to sustain high production levels through at least 2030.

Editors Comments:

*Follow the WEF trail to Switzerland to discover the Khazarian Mafia hiding behind Klaus Schwab and his cohorts. The US and its people have nothing to do with the disasters caused to the ordinary people of the Earth.

The Khazarians have once again constructed an intricate web, whose aim is to destroy the world's economy by setting people up against each other, blocking each other's supply chains, leaving just death and ruins.

What everybody must be aware of is that this is not a war to prevent Putin from occupying Ukraine, but an attempt by the evil Khazarian Jews/WEF/NATO to control yet another country in their growing New World Order. They are simply using Ukraine as a battlefield. Their plan is to destroy totally the world's economy and turn the population into slaves.

Like the Freemasons, they have also life-threatening rules in their membership, one being REVENGE, 10 times harder than was ever perpetrated on them.

Russia in particular, in the past, has expelled the Khazars several times. I have all of 7 detailed articles in book format on the Khazarian Jews if anybody is interested in further information.

Putin, and earlier also Trump, are the ONLY Presidents who have enough guts to see what they are attempting to do to the world population and have sufficient courage to do something about it.



Copy & Paste the link above for Yandex translation to Norwegian.

WHO and WHAT is behind it all? : >

The bottom line is for the people to regain their original, moral principles, which have intentionally been watered out over the past generations by our press, TV, and other media owned by the Illuminati/Bilderberger Group, corrupting our morals by making misbehavior acceptable to our society. Only in this way shall we conquer this oncoming wave of evil.

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