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123 billion cubic meters of gas. From Norway with Love

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123 billion cubic meters of gas. From Norway with Love
November 07
09:00 2017

States and companies are summing up the results of the gas year. For those who do not know: a new gas year begins on November 1. So, according to the results of the last year, Norway has become the leader in the supply of blue fuel to Europe. The volume of exports has amounted to 123 billion cubic meters. This is an absolute record for the Scandinavian state.

The results were reported at the European Autumn Gas Conference, which is currently taking place in Milan. Tor Martin Anfinnsen, the vice-president of Statoil, the largest Norwegian oil and gas company, reported these figures to the public.

He noted that it was not possible to elucidate one obvious reason for such a high demand from the European community. Tor Martin also said that at that moment a quarter of the gas consumed by the EU came from Norway.

Over the past gas year, Norway exported about 5.5 billion cubic meters of gas in a liquefied form. Statoil’s share makes up about 8% of this volume. There were statements that the volume of the production and exports in the following year would remain at the same level; among other things this included the LNG share.

The material was prepared with the participation of Andrey Majorov,
a leading analyst of the brokerage company CT Trade

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