Norway’s Gas Production Still Below Expectations

Norway’s production figures indicate that the Scandinavian country produced less gas than forecasted for the third consecutive month. Additionally, for the fourth month in a row, gas production was lower than a year before. 

‘The total petroleum production for the first seven months in 2014 is about 125.4 million standard cubic meters oil equivalents. (MSm3 o.e.), broken down as follows: about 50.0 MSm3 o.e. of oil, about 13.4 MSm3 o.e. of NGL and condensate and about 62.0 MSm3 o.e. of gas for sale,’ reads a note released by the Norwegian Petroleum Directorate on Thursday. 

In July, the country produced around 8 MSm3, with respected to a forecast of almost 9 MSm3. 

While gas production remained on 2013 levels till April, it then significantly decreased with respect to 12 months before.

Despite production in July increased with respect to June, the reversal is expected to be just temporary. According to forecasts, gas production should remain almost stable in August before falling to June levels in September.