Norway will boost its natural gas output in the coming months, keeping production higher than normal through the summer and delivering bigger volumes to Europe at a time of shortages and soaring prices, Equinor said on Wednesday.
Equinor's flag flutters next to the company's headqurters in Stavanger, Norway December 5, 2019.
Adjusted production permits from the Norwegian government will allow the Oseberg field to increase gas exports by around 1 billion cubic metres in the period until Sept. 30, while the Heidrun field can increase by 0.4 bcm this year. In addition, the Troll field, the North Sea's largest source of gas, can increase output in the event that other fields face outages, thus improving the overall robustness of supply, Equinor said.
While Norwegian oil and gas fields are producing at near-full capacity, the mix between oil and gas can in some cases be adjusted. The government sets quotas for fields to ensure the country is able to maximise its output over time.
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