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Released September 24, 2025 | SUGAR LAND
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Written by Daniel Graeber for Industrial Info Resources (Sugar Land,
Texas)--As U.S. President Donald Trump urges Europe to take in even less energy from Russia, the Norwegian government reported that both oil and gas production was higher than expected.
Norway is among the major suppliers of crude oil and natural gas to members of the European Union, and to the United Kingdom to some extent. Alongside the United States, Norway is among the major suppliers to the region, particularly after war-related sanctions sidelined much of Russia's potential exports.
On Tuesday, the Norwegian Offshore Directorate, the nation's energy regulator, reported that oil production in August averaged 1.79 million barrels per day (BBL/d). That's 2.3% lower than July levels, but 7.1% more than the government anticipated.
Natural gas production, meanwhile, averaged 1.15 billion cubic feet per day (Bcf/d), again 2.3% below July levels, but 4% above the government's forecast.
Norway's northernmost oil field, Johan Castberg, was officially inaugurated in August, highlighting the importance the Barents Sea has in slowing the expected decline in production beyond the 2030s.
Norwegian energy company Equinor (Stavanger) believes the field will produce for 30 years and at its peak will be able to produce 220,000 barrels of oil equivalent per day. The Barents Sea now hosts some of the largest oil- and gas-producing fields in Norwegian territorial waters.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here for reports associated with Johan Castberg.
Equinor on Tuesday unveiled even more developments in the Barents Sea, announcing the start of production from the Askeladd Vest field, which will provide feed stock for a liquified natural gas (LNG) facility in the northern city of Hammerfest.
Subscribers can learn more about Hammerfest here.
The facility accounts for about 5% of total Norwegian gas exports, which at 628 million cubic feet per day is the equivalent of 2% of European gas demand. Equinor says it's shipping LNG to the European markets every five days, helping to ensure energy security for the region.
Norway emerged as the dominant energy supplier to the European Union after the Russian invasion of Ukraine in 2022. Recent data from the European Commission, the EU's governing body, found Norway was the top natural gas supplier to the bloc, followed by LNG from the United States.
On the other side of the ocean, U.S. President Donald Trump made emergency declarations to stimulate the domestic energy sector, pointing to LNG deliveries as a boon to European energy security.
Terms of a newly-brokered trade deal with the United States calls for Europe to purchase some $750 billion worth of energy products over the next three years, from nuclear fuel to LNG.
The framework for the LNG commitments was criticized as out of reach, both in terms of the level of supplies from the United States to storage capacity in Europe. On Saturday the U.S. president added that Russia oil exports to Europe are "not supposed to happen."
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
Norway is among the major suppliers of crude oil and natural gas to members of the European Union, and to the United Kingdom to some extent. Alongside the United States, Norway is among the major suppliers to the region, particularly after war-related sanctions sidelined much of Russia's potential exports.
On Tuesday, the Norwegian Offshore Directorate, the nation's energy regulator, reported that oil production in August averaged 1.79 million barrels per day (BBL/d). That's 2.3% lower than July levels, but 7.1% more than the government anticipated.
Natural gas production, meanwhile, averaged 1.15 billion cubic feet per day (Bcf/d), again 2.3% below July levels, but 4% above the government's forecast.
Norway's northernmost oil field, Johan Castberg, was officially inaugurated in August, highlighting the importance the Barents Sea has in slowing the expected decline in production beyond the 2030s.
Norwegian energy company Equinor (Stavanger) believes the field will produce for 30 years and at its peak will be able to produce 220,000 barrels of oil equivalent per day. The Barents Sea now hosts some of the largest oil- and gas-producing fields in Norwegian territorial waters.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here for reports associated with Johan Castberg.
Equinor on Tuesday unveiled even more developments in the Barents Sea, announcing the start of production from the Askeladd Vest field, which will provide feed stock for a liquified natural gas (LNG) facility in the northern city of Hammerfest.
Subscribers can learn more about Hammerfest here.
The facility accounts for about 5% of total Norwegian gas exports, which at 628 million cubic feet per day is the equivalent of 2% of European gas demand. Equinor says it's shipping LNG to the European markets every five days, helping to ensure energy security for the region.
Norway emerged as the dominant energy supplier to the European Union after the Russian invasion of Ukraine in 2022. Recent data from the European Commission, the EU's governing body, found Norway was the top natural gas supplier to the bloc, followed by LNG from the United States.
On the other side of the ocean, U.S. President Donald Trump made emergency declarations to stimulate the domestic energy sector, pointing to LNG deliveries as a boon to European energy security.
Terms of a newly-brokered trade deal with the United States calls for Europe to purchase some $750 billion worth of energy products over the next three years, from nuclear fuel to LNG.
The framework for the LNG commitments was criticized as out of reach, both in terms of the level of supplies from the United States to storage capacity in Europe. On Saturday the U.S. president added that Russia oil exports to Europe are "not supposed to happen."
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
