1. Feb 2022 1 minutt

Annual report 2021

Norwegian gas export has never been more important

A strained energy situation has characterised Europe in the latter half of 2021. In a time of record-high energy prices, a changing energy system, and increasing energy needs in Europe, Norwegian natural gas has never played a more important role.

Gas is among the largest sources of electricity production in Europe, and deliveries of natural gas from Norway now cover approximately a quarter of Europe's total energy consumption. European households and businesses have experienced high prices for gas, coal, and electricity in 2021. Delivery and storage of gas have been among several factors contributing to the high electicity prices.