Global gas markets long-term supply outlook - Norway - H1 2015
Report summary
Table of contents
- Executive summary
-
Supply
- Europe’s second largest importer of gas, adjusting flexible volumes to market conditions
- Aasta Hansteen is a significant new source of supply, but other investments have been delayed
- Exploration success (including Barents Sea) is required to sustain production longer-term
-
Costs
- Cost of marginal Norwegian supply is rising
- Demand
-
Infrastructure
-
Pipe
- Over 150 bcm of pipe export capacity to Europe
- LNG
- Tariffs
-
Pipe
-
Supply-demand balances
-
Export potential
- Sufficient export potential to meet NPD forecast
-
Export potential
-
Contracts
- Spot price linkage has increased in recent years; contract supply flexibility has decreased
-
Trade
- Strategy
- Market access
-
Recent Trends
- Despite mild weather Norway exceeded NPD forecast in 2014
-
Outlook
-
Medium term
- Norway maintains export levels and benefits from spot price exposure
-
Long term
- Norway contributes to oversupply from 2019, new Polarled developments are delayed, YTF (including Barents) needed to sustain long-term exports
-
Medium term
- Risks and uncertainties
Tables and charts
This report includes 15 images and tables including:
- Map - key domestic and export infrastructure
- Indigenous production potential
- Domestic demand by sector
- Export capacity
- Contracted exports vs export potential
- Breakeven cost of Norway pipe supply to Europe*
- Existing LNG projects
- Export outlook v export potential
- Export supply mix
- Existing export pipelines
- Under construction pipelines
- Possible pipelines
- Available export volumes vs available export capacity
- Norway pipe and LNG exports
- Norway production vs NPD (2013, 2014)
What's included
This report contains:
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