European Gas and Oil market

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Unformatted text preview: ich pipeline should be used to transport the gas is avoided. All licensees on the Norwegian continental shelf are responsible for selling their own gas. StatoilHydro sells the state's oil and gas together with its own petroleum, in accordance with the Ministry of Petroleum and Energy’s instruction concerning the marketing and sale of oil and gas. The pipeline system is a natural monopoly, with high, irrevocable investment costs and low operating costs. This is why gas transport tariffs are governed by special regulations issued by the Ministry of Petroleum and Energy. This ensures that the economic returns are earned from producing fields and not from the transportation system. The oil companies’ access to capacity in the system is based on their needs for gas transport. 18 Gassled. Available on: <energilink.tu.no/leksikon/gassled.aspx>. 21 © Ifri F. Harbo / The European Gas and Oil Market In order to ensure good resource management, transport rights can be transferred between users when needs change. Gassco...
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This document was uploaded on 03/30/2014.

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