The gas industry accounts for a steadily increasing share of the petroleum sector in Norway and provides the State with considerable revenues. Gas exports have passed oil as the most important export article in Norway.
Norwegian gas is an important energy supply for Europe and is exported to all of the major consumer nations in Western Europe. More than 20 percent of gas consumption in EU member states is covered by Norwegian gas. The EU member states are responsible for roughly 30 percent of their gas consumption through their own production. As a result they are dependent on reliable imports from sources such as Russia, Norway and countries in the Middle East.
In 2017, Norwegian natural gas exports amounted to approximately 115 billion Sm3 o.e. which places Norway second in the world behind Russia in gas exports. The transport capacity of the Norwegian pipeline system is currently around 120 billion Sm3 o.e. per year.
As a major supplier, it is vital that the Norwegian gas industry is reliable and dependable. Long-term professional ownership of the transport network is therefore of paramount importance.