Norwegian Q1 Gas Output up 4.3%

Norway produced 4.3% more gas in the first quarter of this year than last, if the preliminary figures for March do not move downwards.

Overall output was an average of 361.6mn m³/d, compared with 346.7mn m³/d in Q1 2015, the Norwegian Petroleum Directorate (NPD) said April 15.

It also produced more in each month of the quarter than it forecast it would last December, when it expected output to be around 335.0mn m³/d, on average.

March 2016 output was 361.9mn m³/d, beating both March 2015 actual (350.4mn m³/d) and March 2016 forecast (334.6mn m³). The NPD had no explanation for this rise compared with the expectation, which might have been to do with buyers nominating more as gas prices are low. Almost all Norway's gas is exported. Oil production by contrast was very similar to the forecast in each month.

April and the start of warmer weather sees a big drop in gas output. Last April it averaged 261.5mn m³/d and is forecast at 270.4mn m³/d this year.

William Powell