Norwegian gas flow sees slight dip in Jan

Norwegian natural gas supply dropped 1% month/month in January to 356.8mn m³/day, the Norwegian Petroleum Directorate (NPD) reported on February 21.

Production was 3.9% higher than in January last year, however, and beat the forecast for last month by 3.9%, the NPD said.

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Norwegian oil and other liquids output averaged 1.98mn barrels/day in January, down 1.1% m/m and coming in 1.2% below the forecast, although it was still 1% higher yr/yr.

Norway is now the biggest gas supplier to the EU, following the drastic drop in Russian pipeline exports to the bloc over the past year. It exported a record 122bn m³ of gas to Europe last year, up 8% from the level in 2021. But the scope for further growth is limited, with the NPD forecasting that exports will peak at 122.5bn m³ in 2025.