Norway Is Boosting Fossil Fuel Production so Why Is the UK Not Doing the Same
3 Articles
3 Articles
Norway is switching to oil and gas production as Europe desperately seeks sources of imports in the shadow of the Iranian crisis.
Norway fires its oil and gas production to fill the vacuum left by the closure of the Strait of Ormuz, one of the most crucial maritime routes for the transport of crude oil and LNG. Brent has been around $95 per barrel this week and the TTF, the European gas benchmark, flirts with EUR 45 per megawatt-hour. The Nordic country, which was already the largest hydrocarbon producer in Western Europe, has intensified extractions at its North Sea and B…
Norway is boosting fossil fuel production so why is the UK not doing the same
The UK and Norway are now taking quite different strategic approaches to the North Sea even though both still need oil and gas. Norway has decided that fossil fuels remain central to its economy and Europe’s energy security for decades ahead.
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