The updated estimates of the Norwegian authorities for gas sales in 2023 are 122 billion standard cubic meters (Sm3).
– 122 billion standard cubic meters correspond to approximately 1355 TWh. These huge amounts of energy are important for Europe's energy access and security, says Oil and Energy Minister Terje Aasland.
New investments to maintain the level of production
The gas producers on the Norwegian Continental Shelf, with the support of the authorities, have made a huge effort to supply as much gas as possible to their customers in Europe over the past year. We expect that this effort will also be continued in 2023. At the same time, new investments are being launched all the time to keep the level of production at a constant level. The estimate for 2023 indicates that additional production from new projects that will be launched will compensate for the development of existing fields.
– I am impressed and grateful for the work that has been done in the fields to increase gas supplies to Europe and for the great effort that everyone who works in the industry has put in – continues the Minister of Oil and Energy.
The high level of gas production may be maintained for the next 4-5 years
There is always uncertainty about the level of production in the future, and uncertainty increases over time. It is expected that the current high level of gas production may be maintained for the next 4-5 years. This is due to several ongoing and new development projects on the Norwegian Continental Shelf. In the short term, some new discoveries are needed to avoid a too steep decline in gas exports. Without new investments, gas production will gradually decline as existing fields and projects are drained.
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Source: regjeringen
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