Norway’s natural gas output rose in December to an all-time high, beating an official forecast, while crude oil production was also above expectations, data from the Norwegian Offshore Directorate (NOD) showed on Tuesday.

The Nordic country’s gas output declined in the middle of 2023 amid extensive repair work at offshore fields and onshore terminals, but the extra maintenance effort ultimately boosted capacity, officials have said.

Natural gas production in December rose to 379 million cubic metres per day (mcm/day) from 365 mcm/day a month before, and exceeded a forecast of 352.1 mcm/day by 7.7%, the regulator said on its website.

It marks the highest ever monthly gas production for Norway, beating a previous record set in January 2017 of 372.77 mcm/day.

Norway in 2022 overtook Russia as Europe’s biggest source of gas as Moscow cut supplies amid the war in Ukraine, increasing the focus on the security and reliability of the Norwegian energy industry.

Pipeline system operator Gassco previously said it had exported a record volume of natural gas in Europe in December, citing high production and increased processing capacity. The NOD data also includes LNG, which is not handled by Gassco.

Norwegian energy companies will ramp up exploration for natural gas in the Barents Sea in the next three years, industry executives told Reuters last week, showing renewed interest in the remote Arctic region after Russia’s cutbacks.

Norway’s crude oil output rose to 1.85 million barrels per day (bpd) in December from 1.81 million bpd in November, above a forecast of 1.81 million bpd, NOD’s preliminary data showed.

While Norway backs the Paris climate accords and the global goal to transition away from fossil fuels, the country also says the world will still need access to oil and gas in coming decades.
Source: Reuters (Reporting by Nora Buli; Editing by Terje Solsvik and Jan Harvey)