NPD is forecasting a strong start to GY22-23
Norway ends gas year at four-year high
A September dip fails to dent highest output since 2018
Norway’s production for the Gas Year 2021-22 (GY21-22), running from October last year to September this year, topped 122bn m³, according to data from regulator the Norwegian Petroleum Directorate (NPD). This was even after a 12pc month-on-month dip in September. And the NPD is forecasting a strong start to GY22-23 as Norway aims to assist gas crisis-hit Europe as best it can. NCS gas production in September was 303mn m³/d, representing the first month since April when GY21-22 volumes have not been higher than the same period in any of the preceding five GYs (see Fig.1). Nonetheless, the September figure was higher than every GY except GY16-17.
Also in this section
17 January 2025
Supply glut or supply deficit are both plausible outlooks, with tariffs and sanctions among the key risks that could swing the pendulum
17 January 2025
European Commission is on its way to meeting clean energy goals, but energy security concerns and higher costs may give it second thoughts
17 January 2025
The CEO of QatarEnergy has highlighted the potential impact a new EU directive could have on energy exports to the continent
16 January 2025
The government’s resource nationalism is aggravating the NOC’s debt position and could yet worsen if also tasked with the decarbonisation shift
