Commodity Market Report
Global gas markets long-term supply outlook - Norway - H2 2017
Report summary
Norwegian production hit a record 122 bcm in 2017, primarily driven by swing producers - Troll, Oseberg and Ormen Lange. Piped exports to the UK and continental Europe in turn reached 115 bcm. With the increase in the Troll cap last year and support from new volumes at Aasta Hansteen (2019) and the Troll West Phase 3 project (2021), we expect Norwegian production to be sustained over 115 bcm the next few years and piped exports over 100 bcm. Post-2025 however decline at legacy fields is expected to intensify and cannot be offset.
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