A small strike in Norway with global repercussions: Oil and gas workers have quit. Now the prices are rising.
Norwegian oil and gas workers have left their jobs amid concerns over Europe’s gas supply. “The strike has begun,” said Audun Ingwartsson, the president of the Southern Union. Norwegian energy group Equinor said Tuesday’s work halt would result in a cut in oil and gas production by 89,000 barrels of oil per day (boepd), of which 27,500 would account for boepd of gas.
By Saturday, a gradual reduction in production could result in the closure of nearly a quarter of Norwegian gas production and about 15 percent of oil production, according to calculations by Reuters news agency. The decision to cut production is ultimately with operator Equinor. The group was initially unavailable for comment.
The Norwegian government is watching the conflict “closely”, it says. AND: You may end the strike when “extraordinary circumstances” exist.
Important energy sector for Norway
For EU countries, the halt comes at an inappropriate time, as they rely more on gas than Norway due to a lack of Russian supplies. Cooperation is to be intensified, as the EU announced in June – so far about 20 percent of the gas imported into the EU comes from Norway. For this reason, Norway has already increased its production capacity by eight percent to about 100 terawatt hours for this year.
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