Norway will allow increased production from its biggest natural gas field as Europe’s second-largest supplier of the fuel prepares for increased competition with Russia and the United States, Bloomberg reports.
© Reuters/Scanpix

The production permit for Troll gas field was increased 10% for the gas year starting October 1, according to field operator Statoil ASA.

With the higher production limit, Norway can catch up with Europe's top gas supplier Russia.

The two producers are also facing competition from the US, which in February began liquefied natural gas (LNG) shipments by tanker from the Gulf of Mexico coast.

“This is exactly the things Norway was going to do to defend market share,” Thierry Bros, an analyst at Societe Generale SA in Paris, told Bloomberg. “Prices should go further down.”

Norway's Statoil has already challenged Russian gas supply monopoly in Lithuania. After the launch of a terminal in Klaipėda in late 2014, Statoil now supplies over half of the country's gas needs.

Įvertink šį straipnį
Norėdami tobulėti, suteikiame jums galimybę įvertinti skaitomą DELFI turinį.
  • 1
  • 2
  • 3
  • 4
  • 5
(0 žmonių įvertino)
0
Leave a comment
or for anonymous commenting click here
By posting, you agree to terms
Read comments Read comments

How Lithuania helped shape Sweden’s elegance

Politics is the new black, regardless of which one you choose, fictional or real. Just as many...

Rail Baltica developing efficient and sustainable energy supply system

The joint venture of the three Baltic states RB Rail AS has commenced the Study for the Development of...

Latvia's private, nongovernmental sectors to be included in national defense system

The Latvian defense ministry proposes developing a comprehensive national defense system that would...

Talks on Latvia's next gov't in new deadlock over interior minister candidate

Negotiations on Latvia's next coalition government ran into a deadlock again on Thursday as the five...

Baltic PMs meet on closer cooperation, security

The prime ministers of Lithuania, Latvia and Estonia met here on Monday on closer cooperation and...