NewsNorway hits gas mining record, singlehandedly covering nearly half of EU's demand

Norway hits gas mining record, singlehandedly covering nearly half of EU's demand

Norway is breaking extraction records
Norway is breaking extraction records
Images source: © Getty Images | Bloomberg

2:02 PM EST, January 25, 2024

In December, Norwegian gas production notably broke a six-year record, hitting the impressive daily rate of 13.4 billion cubic feet. This surpassed the previous record of 11.57 billion cubic feet in 2017, as reported by Reuters.

The Norwegian Maritime Directorate stated that hydrocarbon production in December of the previous year increased by 7.7 percent, according to the e-Petrol portal.

Additionally, oil production exceeded government forecasts for field exploitation on the shelf. The reports read that last year's end saw Norwegian supplies to European countries amounting to 1.85 million barrels per day.

Record-high extractions were mainly due to the increasing demand for hydrocarbons from EU countries, where Norway provides almost half the supplies. On the other hand, the growth in technical capabilities also played a significant role.

Following repairs to extraction installations last year, Norway significantly raised the throughput of its gas facilities, according to Thursday's Dziennik Gazeta Prawna report.

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