Qatar NowOSLO, Oct 1 (Reuters) - Norway's natural gas export system is well equipped to meet high demand from Europe throughout the coming winter, the country's pipelines and processing plants operator Gassco said on Thursday. Following Russia's 2022 invasion of Ukraine, Norway has become Europe's largest supplier of natural gas, meeting around 30% of demand from both the European Union and Britain from fields operated by Equinor and other companies. October 1 marks the start of a new year in the gas market and the beginning of the peak season for deliveries to Europe, where storage levels are well below their long-term average.
"As we enter the winter season with maintenance completed and a well-functioning transportation system, the Norwegian continental shelf is well equipped to meet demand from Europe," Gassco's director of system operations Alfred Skaar Hansen said. The operator recently completed major revisions that cut deliveries in September, in line with its scheduled maintenance plans for the year. European gas prices have more than doubled in 2026 to around €73 per megawatt hour (MWh) after the US-Israeli war on Iran severely restricted supplies of liquefied natural gas.
In 2025, Gassco delivered 114.9 billion cubic metres (bcm) of gas through its 8,800-km (5,468-mile) pipeline network. Deliveries so far in 2026 stand at 86.2 bcm, up 2.1 bcm year-on-year. Last week, EU energy commissioner Dan Jorgensen warned the bloc is facing an energy price crisis this winter and urged member states to continue efforts to fill storage and reduce demand. (Reporting by Terje Solsvik.
Editing by Essi Lehto and Mark Potter)
Source: Euronext Markets
