Connection

popular articles

Valorem Raises 200 Million Euros to Accelerate Its Growth in Renewable Energy
France: EPR debate in Gravelines, energy and economic issues
Kuwait and Qatar Energy in talks for 15-year contract
EDF’s EPR2 reactor cost estimate delayed by several months
EDF finalizes acquisition of General Electric’s nuclear activities

Norway Sets Record in Natural Gas Production in 2024

With 124 billion m³ of gas produced in 2024, Norway consolidates its position as Europe’s primary supplier, replacing Russia in a tense geopolitical context.
  • [favorite_button]

Please share:

Norway, a key player in the European energy sector, achieved a historic milestone in 2024 by setting a new record for natural gas production. According to the report published by the Norwegian Petroleum Directorate, the country reached a production level of 124 billion m³, surpassing the previous record of 122.8 billion m³ set in 2022. This volume was almost entirely exported to Europe, marking a strategic turning point in the continent’s energy security.

The European energy crisis, exacerbated by the war in Ukraine, has led to a drastic reduction in Russian gas deliveries. Consequently, Norway has become Europe’s primary natural gas supplier, a critical role underscored by this exceptional performance.

Drivers of the Record Performance

The Norwegian Petroleum Directorate attributes this result to several factors, including consistent operations at gas fields and technical improvements made in 2023. These advances significantly enhanced production capacity, ensuring a robust response to Europe’s energy needs.

Natural gas now represents more than 50% of Norway’s total hydrocarbon production. However, this exceptional performance is expected to decline gradually toward the end of the 2020s, according to the annual report’s forecasts.

Investments Rise Despite Calls to Limit Exploration

In 2025, investments in the Norwegian oil and gas sector are expected to reach 264 billion Norwegian kroner (23.1 billion USD), an unprecedented level since 2014. This increase reflects the country’s determination to maintain high production levels despite international pressure to reduce fossil fuel exploration.

Since 2021, the International Energy Agency (IEA) has advocated for a halt to new oil exploration projects to limit global warming to 1.5°C above pre-industrial levels. However, the IEA predicts a peak in global demand for fossil fuels, including natural gas, in the coming years, thanks to the growth of renewable energy and technologies such as electric vehicles.

This dynamic places Norway at a strategic crossroads, balancing its environmental commitments with its indispensable role in Europe’s energy supply.

Register free of charge for uninterrupted access.

Publicite

Latest news

Aircela launches a machine that produces gasoline from air and electricity
Sustainability Partners takes control of Ecofin’s renewable assets in the United States
Google commits to 600 MW of solar with energyRe in South Carolina
$960mn in funding secured for Des Neiges wind project in Québec
Canada aims to mobilise $1.1tn through major energy projects by 2035

Recently published in

Enbridge sells 12.5% stake in British Columbia pipeline to 36 First Nations

A CAD715mn ($524mn) partnership enables First Nations to co-own the Westcoast system, backed by a federal loan guarantee of CAD400mn ($293mn).
New Pipeline Connecting Permian Basin to Midwest Scheduled for 2028
Tallgrass Energy announces plans for a pipeline directly connecting the Permian Basin to the Rockies Express network, scheduled to start operations in late 2028 after securing initial commercial agreements with key shippers.
en_1140290945540-8
New Pipeline Connecting Permian Basin to Midwest Scheduled for 2028
Tallgrass Energy announces plans for a pipeline directly connecting the Permian Basin to the Rockies Express network, scheduled to start operations in late 2028 after securing initial commercial agreements with key shippers.
en_1140290945540-8
Aramco could invest in Woodside’s Louisiana gas project
Woodside Energy has announced a collaboration agreement with Saudi Aramco for a potential stake in its $17.5bn liquefied natural gas project in Louisiana, scheduled to begin production in 2029.
en_1140290948540-8
Aramco could invest in Woodside’s Louisiana gas project
Woodside Energy has announced a collaboration agreement with Saudi Aramco for a potential stake in its $17.5bn liquefied natural gas project in Louisiana, scheduled to begin production in 2029.
en_1140290948540-8
Sinopec drills 5,300 metres deep and sets new record for shale gas
Sinopec announced a new vertical depth record with its Tiebei 1HF well, reaching 5,300 metres and producing over 314,000 cubic metres of gas per day in the Sichuan Basin.
en_1140290957540-8
Sinopec drills 5,300 metres deep and sets new record for shale gas
Sinopec announced a new vertical depth record with its Tiebei 1HF well, reaching 5,300 metres and producing over 314,000 cubic metres of gas per day in the Sichuan Basin.
en_1140290957540-8

McDermott successfully installs Scarborough FPU off the coast of China

McDermott has completed the offshore installation of the Scarborough floating platform for Woodside Energy, marking a key step in the preparatory maintenance phase of the gas project in Western Australia.
ArcLight takes majority control of NGPL amid rising energy demand
The fund managed by ArcLight Capital Partners has acquired 25% of Natural Gas Pipeline Company of America, bringing its total stake to 62.5% alongside Kinder Morgan.
en_1140290944540-2-2
ArcLight takes majority control of NGPL amid rising energy demand
The fund managed by ArcLight Capital Partners has acquired 25% of Natural Gas Pipeline Company of America, bringing its total stake to 62.5% alongside Kinder Morgan.
en_1140290944540-2-2
LNG Energy Group targeted by trade ban after delayed filing
The Ontario Securities Commission has imposed a trading suspension on LNG Energy Group due to the non-filing of its annual financial statements for fiscal year 2024.
en_1140290946540-6
LNG Energy Group targeted by trade ban after delayed filing
The Ontario Securities Commission has imposed a trading suspension on LNG Energy Group due to the non-filing of its annual financial statements for fiscal year 2024.
en_1140290946540-6
NRG Energy acquires 25 GW of capacity in $12 billion deal
NRG Energy acquires energy assets from LS Power, including 18 natural gas power plants, to strengthen its portfolio amid expected growth in U.S. electricity demand.
en_1140290957540-6
NRG Energy acquires 25 GW of capacity in $12 billion deal
NRG Energy acquires energy assets from LS Power, including 18 natural gas power plants, to strengthen its portfolio amid expected growth in U.S. electricity demand.
en_1140290957540-6

Woodway Energy appoints Diaco Aviki as CEO to drive growth

Diaco Aviki succeeds Thomas King at the helm of Woodway Energy Infrastructure amid expansion of its natural gas infrastructure in Texas.
The European Union plans to ban all Russian gas imports by the end of 2027
Brussels announces a full exit from Russian gas by the end of 2027, despite a remaining 9% dependency and pressure on the global liquefied natural gas market.
en_1140290951540-2
The European Union plans to ban all Russian gas imports by the end of 2027
Brussels announces a full exit from Russian gas by the end of 2027, despite a remaining 9% dependency and pressure on the global liquefied natural gas market.
en_1140290951540-2
SiEnergy acquires EPCOR’s Texas gas business for $60mn
US-based SiEnergy strengthens its footprint around Houston by acquiring Hughes Gas Resources, an EPCOR subsidiary, for $60mn, expanding its natural gas asset portfolio.
en_1140290946540
SiEnergy acquires EPCOR’s Texas gas business for $60mn
US-based SiEnergy strengthens its footprint around Houston by acquiring Hughes Gas Resources, an EPCOR subsidiary, for $60mn, expanding its natural gas asset portfolio.
en_1140290946540
Commonwealth LNG signs 20-year deal with major Asian buyer
US-based Commonwealth LNG has secured a 20-year supply agreement for 1 million tonnes of LNG per year with a major Asian company, reinforcing the development of its Louisiana terminal.
en_1140290951540
Commonwealth LNG signs 20-year deal with major Asian buyer
US-based Commonwealth LNG has secured a 20-year supply agreement for 1 million tonnes of LNG per year with a major Asian company, reinforcing the development of its Louisiana terminal.
en_1140290951540

Natural gas demand in Southeast Asia to surpass oil and coal by 2050

Driven by economic growth and renewable energy limitations, natural gas consumption in Southeast Asia is expected to nearly double by 2050, according to Wood Mackenzie.
ExxonMobil signs gas exploration deal with Egypt for two offshore blocks
Egypt signed a memorandum with ExxonMobil to restart natural gas exploration in the Mediterranean on the Cairo and Masry blocks amid a sharp decline in domestic production.
en_1140290979540-2
ExxonMobil signs gas exploration deal with Egypt for two offshore blocks
Egypt signed a memorandum with ExxonMobil to restart natural gas exploration in the Mediterranean on the Cairo and Masry blocks amid a sharp decline in domestic production.
en_1140290979540-2
Golar signs 20-year deals in Argentina for two FLNG units totalling $13.7bn
Golar LNG finalised long-term charter agreements with Southern Energy S.A. for two FLNG units offshore Argentina, generating a projected order backlog of $13.7bn.
en_1140290980540-2
Golar signs 20-year deals in Argentina for two FLNG units totalling $13.7bn
Golar LNG finalised long-term charter agreements with Southern Energy S.A. for two FLNG units offshore Argentina, generating a projected order backlog of $13.7bn.
en_1140290980540-2
Up to 3.5 million m³ of gas redirected to Brazil’s spot market in 2025
Brazil's gas market shifts toward spot contracts, driven by pricing gaps and greater contractual flexibility for local distributors.
en_1140290980540
Up to 3.5 million m³ of gas redirected to Brazil’s spot market in 2025
Brazil's gas market shifts toward spot contracts, driven by pricing gaps and greater contractual flexibility for local distributors.
en_1140290980540

Naftogaz receives €270 million from EBRD to bolster gas reserves in Ukraine

Ukraine will receive a €270 million loan from the European Bank for Reconstruction and Development, backed by a Norwegian grant, to secure gas imports over two winters.
CH4 receives EXIM award for 300 MW gas-to-power project in Guyana
The natural gas-to-electricity project led by CH4 Systems with several partners has been recognised by the Export-Import Bank of the United States for its energy and economic impact in Guyana.
en_1140290943540-20
CH4 receives EXIM award for 300 MW gas-to-power project in Guyana
The natural gas-to-electricity project led by CH4 Systems with several partners has been recognised by the Export-Import Bank of the United States for its energy and economic impact in Guyana.
en_1140290943540-20
Subsea7 and SLB OneSubsea awarded EPCI contract by bp for Ginger in Trinidad and Tobago
Bp awards a contract valued between $150mn and $300mn to Subsea Integration Alliance to develop the offshore Ginger field under a new global framework agreement.
en_1140290947540-18
Subsea7 and SLB OneSubsea awarded EPCI contract by bp for Ginger in Trinidad and Tobago
Bp awards a contract valued between $150mn and $300mn to Subsea Integration Alliance to develop the offshore Ginger field under a new global framework agreement.
en_1140290947540-18
Oman signs 15-year deal with Amigo LNG to diversify LNG supply sources
OQ Trading has signed a long-term sales agreement with Amigo LNG in Mexico to purchase 0.6 million tonnes of liquefied natural gas annually, with deliveries scheduled to begin in 2028.
en_1140290952540-17
Oman signs 15-year deal with Amigo LNG to diversify LNG supply sources
OQ Trading has signed a long-term sales agreement with Amigo LNG in Mexico to purchase 0.6 million tonnes of liquefied natural gas annually, with deliveries scheduled to begin in 2028.
en_1140290952540-17

Woodside approves a $17.5bn investment for an LNG project in Louisiana

Woodside approves the development of a 16.5 Mtpa LNG facility in Louisiana, marking a key milestone in its global expansion strategy with production targeted for 2029.
JERA and Saibu Gas join forces to optimise the operation of the Hibiki LNG terminal
JERA and Saibu Gas have reached an agreement to jointly use the Hibiki LNG terminal to secure liquefied natural gas supply and support their global business development.
en_1140290958540-15
JERA and Saibu Gas join forces to optimise the operation of the Hibiki LNG terminal
JERA and Saibu Gas have reached an agreement to jointly use the Hibiki LNG terminal to secure liquefied natural gas supply and support their global business development.
en_1140290958540-15
Calpine entrusts ExxonMobil with storage of 2 million tonnes of CO2 per year
Calpine and ExxonMobil have signed an agreement to transport and store up to 2 million tonnes of CO2 per year from a natural gas power plant near Houston.
en_1140290951540-15
Calpine entrusts ExxonMobil with storage of 2 million tonnes of CO2 per year
Calpine and ExxonMobil have signed an agreement to transport and store up to 2 million tonnes of CO2 per year from a natural gas power plant near Houston.
en_1140290951540-15
Ecopetrol seeks partners after Shell’s withdrawal from gas projects
Ecopetrol is developing a strategy to ensure the continuity of its offshore gas projects in the Caribbean following Shell's strategic withdrawal.
en_1140290992540
Ecopetrol seeks partners after Shell’s withdrawal from gas projects
Ecopetrol is developing a strategy to ensure the continuity of its offshore gas projects in the Caribbean following Shell's strategic withdrawal.
en_1140290992540

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS