facebook
twitter
rss
account
search
search
 

Gassco CEO: Decline in Norwegian gas shipments is not a trend

Jan. 10, 2014 at 6:20 AM   |   Comments

KOPERVIK, Norway, Jan. 10 (UPI) -- The head of Norway gas company Gassco said Friday the volume of gas transported from the Norwegian continental shelf declined last year but it wasn't a trend.

Commenting on a decline of 173 billion cubic feet from the previous year, Chief Executive Officer Brian Bjordal said natural gas exports depend on a wide array of variables, such as market demand and transport capacity.

"This interaction creates natural variations, and the reduction in last year's deliveries accordingly does not represent a trend," he said in a statement.

"Norwegian gas exports in any event represent a substantial contribution to energy supplies in major European countries, and remain stable at a high level."

The state-owned company reported 3.6 trillion cubic feet of natural gas was sent from the shelf to terminals in Belgium, France, Germany and the United Kingdom in 2013 -- a decline of 173 billion cubic feet from 2012.

Gassco said the transport system for Norwegian gas last year was reliable 99.68 percent of the time, compared with 99.69 percent for 2012.

Norway is the second-largest natural gas exporter in the world after Russia and ranks fourth in natural gas production.

© 2014 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
GM recalls 221,000 Cadillacs and Impalas GM recalls 221,000 Cadillacs and Impalas
2
New National Security Cutter delivered to Coast Guard New National Security Cutter delivered to Coast Guard
3
First MT30 engine for Korean Navy frigates passes acceptance tests First MT30 engine for Korean Navy frigates passes acceptance tests
4
Ukraine's State Guard Service receives armored personnel carriers Ukraine's State Guard Service receives armored personnel carriers
5
Navy's Triton surveillance drone flies cross-country Navy's Triton surveillance drone flies cross-country
Trending News
Video
x
Feedback