Norway took the lead in the supply of natural gas to Europe, moving the aggressor Russia.
This happened after Moscow cut energy supplies to the EU.
This is reported by Business Insider with reference to Reuters.
Norwegian Energy Minister Terje Åsland said his country plans to keep natural gas production at its current high levels as Europe grapples with a power generation crisis that could undermine its industry.
“I expect we can maintain the level production, which we have now, until 2030,” said Asland.
Official forecasts indicate that Norway intends to increase natural gas production by 8% compared to 2021. And, accordingly, break the record five years ago.
The country has outstripped Russia after Moscow reduced gas exports in response to Western sanctions. Gazprom's supply cut has sent natural gas prices soaring in Europe, with benchmark TTF gas futures in the Netherlands jumping 220% since early June.
The publication also notes that while Norway intends to maintain a high level of gas production, it does not plan to cut prices to make European energy more affordable.
“Basically, the market is predictable. When there is a shortage, prices are high. This also helps increase production and directs gas to those most in need markets,” Asland added.
Recall that Ukrainian President Volodymyr Zelensky stressed that the Kremlin needs two Russian Nord Stream gas pipelines to Europe, bypassing Ukraine, solely for blackmail. Thus, Russia is blackmailing the world both by blowing up the captured Zaporozhye nuclear power plant and by supplying gas to Europe.
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