OilPrice: Only one country in Europe has benefited from the gas crisis, and this is not Russia

In the situation of gas shortage and high cost in Europe, the countries of the region are forced to tighten their belts and switch to less environmentally friendly energy sources, which contradicts the EU's plans to reduce atmospheric emissions. The beneficiaries are the energy exporting countries, which can sell oil and gas at higher prices than before.

According to the publication OilPrice, Norway has benefited from the European energy collapse to a greater extent, and not Russia, which supplies energy resources under long-term contracts.



Total Norwegian exports last month totaled a record $ 15,5 billion as natural gas prices rose sevenfold from September 2020, Statistics Norway reported this month. In physical terms, deliveries of "blue fuel" from Norway in September increased by 8 percent compared to the same period in 2020. The October increase will be even more significant.

Norway, the second largest gas supplier to Europe after Russia, is stepping up gas supplies ahead of the winter season after energy company Equinor was allowed to increase fuel exports from the Oseberg and Troll fields.

The country's government says that Oslo will continue to issue permits for exploration of oil and gas fields on the Norwegian shelf and will maintain the current system of oil auctions.