European gas market analysis and reports

Norway's Gas Production Reaches Record 124 bcm in 2024, Surpassing Russia as Europe's Top Supplier

Jan 9, 2025, 10:09 AM

Norway's gas production reached an all-time high in 2024, with the country selling 124 billion cubic meters (bcm) of gas, a slight increase from the previous record of 122.8 bcm set in 2022. The Norwegian Offshore Directorate reported that this record output was largely exported to Europe, where Norway has become the leading gas supplier since replacing Russia in 2022. The high production levels in 2024 were attributed to consistent output from fields and increased capacity due to improvements made in 2023. Looking forward, gas production is expected to remain stable at high levels before gradually declining toward the end of the 2020s. Norway's oil and gas companies are set to maintain their exploration efforts, planning to drill a similar number of exploration wells in the coming year.