Norway's gas production will be slightly lower than the record set in 2025.

The Norwegian Offshore Directorate said that the Norwegian natural gas production is expected to decline slightly this year. It rose 6.9% to a new record of 124 billion cubic meters (bcm).

Norway is now Europe's biggest natural gas supplier following the Russian invasion of Ukraine, 2022. It provides about 30% of all gas imported to the European Union.

In a press release, NOD Director General Torgeir Storstal said that "since the transport of Russian gas through Ukraine ended in the first quarter of this year the gas from Norway is even more important."

The NOD published data on Thursday showing that Norway's output of gas increased from 116 billion cubic meters in 2023. This was a year heavily affected by maintenance issues. It also beat the record set in 2012, 122.8 billion cubic metres.

Equinor's North Sea Troll gas field, which is operated by the company, produced 42.5 billion cubic meters of gas in 2013, accounting for over 10% of Europe’s total demand, according to a statement released earlier this week.

The NOD predicted that Norway would produce 120.4 billion cubic meters of gas by 2025. This is a 2.9% decline year-on-year. It will remain at this level through 2027, before dropping to 110.8 billion cubic metres in 2029.

Forecasts show that Norway's crude output will remain roughly the same in 2025, at 102.2 millions cubic meters (mcm), compared to 2024. This is equivalent to 1.8 million barrels of oil per day.

By 2029 the crude oil production is expected to drop to 81.2 million mcm.

The NOD stated that more exploration and investments in existing discoveries and fields are needed to stop the decline.

It added that "failure of investment will lead to a rapid dismantling" of petroleum activities.

However, critics say that policies aimed at promoting exploration and new development contradict Norway's commitment to reducing its greenhouse gas emission from its most polluting industry.

(source: Reuters)