Gas, Norway strike puts 60% of exports at risk

Oil and gas workers’ strike threatens to cut gas exports from Norway by nearly 60 percent: The Norwegian Oil and Gas Association business group reports that it has already had to close three fields and that if the strike continues, Norway’s gas exports are expected to fall by more than half by day Saturday and by more than 340,000 barrels of crude oil. The impact of the filling had major implications for the price of gas, which hit record prices on Tuesday, exceeding €170 per megawatt-hour on the TTF platform and then rebounding.

wage clash

“Roughly 60% of gas exports from the Norwegian continental shelf will be affected by the strike if it is intensified,” the group says.

The strike by Norwegian oil and gas rig operators in the North Sea could have consequences for the supply of other European countries. Union head Udun Ingvartsen explained to the German press that salary negotiations failed, according to international media, initially 74 employees and technicians crossed their arms.

As of tomorrow, another 117 workers have threatened to halt production at three more sites, which could lead to shutdowns. Ingvartsen said trade unions hoped for a quick start to the negotiations. Now they say that in the absence of negotiations, another 191 employees from three major platforms could go on strike from July 9.

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Impact on oil and gas production

According to the employers’ organization Norsk olje og gass, if the strike is extended, 13% of Norway’s total gas production could be affected. “The strike will result in a loss in oil production of 130,000 barrels per day and a loss in gas production of 292,000 barrels of oil equivalent per day,” the organization said.

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