Norwegian pipeline gas exports to Europe are on track to approach the historic record set in 2017, following a 10% increase in volumes so far in 2024, according to Gassco CEO Frode Leversund. This rise comes after a decline in 2023 and is attributed to strong demand from European customers, high system availability, and reduced maintenance at the Kollsnes processing plant.
As of the end of July, Norway has exported 70.2 billion cubic meters (bcm) of gas, up from 64 bcm during the same period last year. Gassco’s pipeline network, which spans 8,800 kilometers, delivered 109.1 bcm of gas in 2023, a decrease from 116.9 bcm in 2022.
Leversund noted that while he wouldn’t guarantee a record, current trends could lead to figures close to the highest deliveries ever recorded. Approximately 95% of Norway’s gas exports are transported via pipelines, with the remainder coming from liquefied natural gas.
As the Norwegian gas system enters its peak maintenance season at the end of August, any unforeseen issues could significantly affect gas prices, given Norway’s crucial role as Europe’s largest gas supplier following reduced Russian shipments.