Is oslo gas a storage energy

Why is Norway a key player in the geopolitics of energy?

Petroleum production on the Norwegian Continental Shelf (NCS) has made Norway a player of strategic importance for the geopolitics of energy. Particularly significant is Norway's role for energy security in European markets for natural gas, actualized by Russia's war against Ukraine.

What does Norway's gas supply mean for Europe?

It means that for Europe, Norway's provision of gas is key for the European economy (slide: illustration of the gas suppliers to the EU). When the war in Ukraine erupted, there was a dire crisis in Europe because gas was lacking. The storage of gas was so low that big economies like Germany and others were really in danger of having to close down.

Does Norway use gas?

Norway, the third largest exporter of gas in the world, does not use any gas in its economy. 80 % of our electricity comes from these big water reservoirs. You see (in the photo) there are arrangements at the sites, and we can regulate it in order to produce electricity safely.

Why is Norway a major supplier of oil & gas?

Norway is an important supplier of oil and gas to the global market, and almost all oil and gas produced on the Norwegian shelf is exported. Company and government revenues from the sale of oil and gas have played a crucial role in creating the modern Norwegian society. Total production in Norway was about 241.2 million Sm³ o.e. in 2024.

Why is Norway a significant energy exporter?

Real policy roles and images as a significant energy exporter and, consequently, a rich state, challenge external as well as domestic policies. Petroleum production on the Norwegian Continental Shelf (NCS) has made Norway a player of strategic importance for the geopolitics of energy.

Does Norway have a natural gas market?

In the natural gas market, Norway is largely one-sided dependent on sunk cost pipelines to purchasers in the EU, through specific transport corridors, where it faces a political and commercial dominant counterpart. Consumer interests naturally strongly influence the content of European energy policy and market regulations.