LNG

The Norwegian Ministry of Petroleum and Energy has updated its estimate of projected European natural gas sales in 2022 to about 8 percent higher than last year and set to be bolstered by the restarting Hammerfest LNG export plant in Northern Norway and with the volumes helping to offset declining Russian gas sales.

Gassco, the Norwegian pipeline natural gas operator and one of the main competitors to LNG in Europe, said it transported its third-largest amount of gas to the Continent, though European gas sales, measured by export value, set a solid new record in 2021 as a result of the high prices.