NEWS

Norway will be able to sustain gas production at last year’s elevated level until at least 2026 thanks to 300 billion Norwegian kroner ($30 billion) of investment in new offshore fields.

“Only rarely have we seen so much oil and gas produced on the Norwegian shelf as was the case last year – and only rarely have we seen such significant investment decisions,” the Norwegian Petroleum Directorate said Monday in its annual report. “Norway has fortified its role as a predictable, long-term supplier of energy to Europe.”

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