European Gas and Oil market

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: l production of nearly 3 million barrels per day (bpd) and an annual gas production of 85 billion cubic metres. Approximately 80,000 people are employed in the petroleum sector in Norway (2007). Today, the Norwegian continental shelf is the most energy-efficient petroleum-producing region in the world with CO2 emissions that are less than a third of the global average per unit produced6. The Norwegian continental shelf is Europe’s largest area for oil and gas production besides Russia. Early in the next decade, Norway’s gas exports – almost all to Europe – will increase by 50% to an estimated 130 billion cubic metres, close to the level of Russia’s exports. Exports from Norway will account for nearly a third of natural gas consumption. Norwegian gas exports account for approximately 15% of EU gas consumption today, with nearly 100% of Norwegian exports going to the EU. The main importers are: Germany (almost 30%), France (almost 20%), Great Britain (18%) and Belgium (8%). Energy...
View Full Document

This document was uploaded on 03/30/2014.

Ask a homework question - tutors are online