How does Norway make money on gas supplies to Europe?

Alexey Belogoryev, Deputy Principal Director on Energy Studies of the Institute for Energy and Finance, commented to Business FM on the reasons for the sharp increase in gas supplies from Norway to the EU:

“In order to quickly replace such a large volume, extremely high prices are needed. Because only they can ensure the flow of gas from other sources. This year, not only Norway, but even Azerbaijan is trying to increase production beyond the plan. Algeria, which is experiencing great difficulties with the balance of gas and planned to greatly reduce exports this year, is also trying to do everything possible to support it, precisely because prices are higher in Europe. And if this were not the case, Europe would already be experiencing a shortage of gas.”