BAKU, Azerbaijan, August 28. Norwegian Equinor, the largest gas supplier to Europe, expects gas prices to remain between 30 and 40 euros per MWh in the long term, Trend reports, referring to the statement from the company’s executive vice president, Kjetil Hove.
“We are optimistic about gas prices for many years ahead. These are the price levels we expect to see. We're talking about a period through at least 2035,” he said.
Hove noted that liquefied natural gas (LNG) is currently the primary price driver in the European gas market.
However, he emphasized that pipeline gas from Norway, which competes with LNG, remains very attractive.
The executive vice president also mentioned that Equinor plans to invest 5–6 billion euros annually in Norwegian offshore projects through 2035. The company aims to maintain oil and gas production levels similar to today’s over the next decade.
Norway is a leading supplier of pipeline gas to Europe.
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