Norwegian Gas Production Could Reach 8-Year High Soon

After a fall in British spot gas prices on Monday, analysts started explaining the possible reasons behind such a trend. Most of the experts see in the Norwegian production a reason for the falling prices in the United Kingdom.  

Norway’s production is growing, as planned maintenance operations have been completed over the weekend. This is likely to add to an already oversupplied system. 

According to Bloomberg, Norway is poised to reach an eight-year high. Output from the Troll field is set to climb 23 percent to 33.5 billion cubic meters (1.2 trillion cubic feet) in the year through September. 

On other hand, companies keep divesting from the country. Halliburton reportedly cut another 141 positions in Norway on Monday.

Recent developments showed how companies in the North Sea are trying to monetise assets, while increasing production.

Norway’s preliminary production figures for June 2015 show an increase in gas production with respect to the same period of 2014. Figures for June also indicate that actual production is higher than expected.