In 2024, Norway’s record gas production cemented the country as an essential supplier to Europe amid changes in the global energy landscape. According to the Norwegian Offshore Directorate (NOD), the country exported 124 billion standard cubic metres of gas (Sm³) , surpassing the 122.8 billion reported in 2022.
The importance of Norwegian gas has grown significantly following the reduction of Russian shipments via Ukraine. Torgeir Stordal, director general of NOD, stressed that the energy content of gas exports is one hundred times higher than net electricity exports , underlining Norway’s key role in European energy supply.
Exploration secures record gas production
Exploration activity remained at elevated levels, although recent discoveries are smaller in scale. However, projects are being evaluated to connect these fields to existing fields. The level of investment also remains solid, with plans for new developments that could prolong production stability until the end of the 2020s.
In addition, the Norwegian industry has stepped up its efforts to safely store CO₂ on the continental shelf. Eleven licences have already been granted, and approval for new exploration areas is expected in 2025.
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Source and photo: Norwegian Offshore Directorate (NOD)
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