Arab Press

بالشعب و للشعب
Sunday, Apr 05, 2026

Norway exports record as natural gas prices surge

Norway exports record as natural gas prices surge

Norway's exports reached a record in July, driven mainly by natural gas prices that have soared since Russia's invasion of Ukraine.

The Scandinavian country’s statistics agency announced that Norwegian exports reached 229 billion kroner (€23.2 billion) last month, 0.4% higher than the previous record set in March this year.

Norway’s trade surplus of 153.2 billion kroner (€15.5 billion) also was the highest on record.

Norway, a major producer of offshore oil and gas, has seen energy exports surge as European countries scramble to find alternatives to Russian energy in response to Moscow's invasion of Ukraine.

Since the invasion, the EU has approved bans on Russian coal and most oil to take effect later this year, but it did not include Russian natural gas because the 27-nation bloc depends on gas to power factories, generate electricity and heat homes.

However, Russian President Vladimir Putin has restricted gas exports to pressure the bloc into reducing its sanctions over the war in Ukraine or to push other political aims. The EU has been left scrambling to fill gas storage ahead of the winter when demand rises and utility companies draw down their reserves to keep homes warm and power plants running.

Statistics Norway said natural gas exports reached 128 billion kroner (€12.97 billion) in July, more than four times higher than in the same month last year.

Jon Olav Roerhus, senior adviser for external trade at Statistics Norway, said reductions in Russian gas deliveries to Europe through the Nord Stream 1 pipeline contributed to soaring gas prices last month, which were "the main reason for the exceptionally high export value we are now experiencing.”

At a one-day meeting of the five Nordic leaders in Oslo on Monday, Danish Prime Minister Mette Frederiksen said: “We must phase out Russian gas as soon as possible.” She said Europe is “facing a challenging fall.”

Norwegian Prime Minister Jonas Gahr Støre said the Nordic countries also should focus on renewable energies, including wind and solar.

“We all struggle with increased energy prices,” said Gahr Støre, whose country and Iceland are not EU members.

“As we enter the cold winter, our populations have to understand what is at stake,” Finnish Prime Minister Sanna Marin.

Higher fish and metals exports also contributed to Norway's surge in exports.

Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Saudi Arabia Unveils Ambition to Establish Prestigious Global Prize Rivaling the Nobel
Saudi Crown Prince to Engage Wall Street in Push for Investment and Economic Expansion
Iran Accuses Saudi Arabia and UAE After Downing of Chinese-Made Drone
Saudi Arabia Condemns Attack on Hospital in Sudan, Calls for Protection of Civilians
Coordinated Drone Strike Targets CIA Facility Within US Embassy in Saudi Arabia
Italy’s Meloni Prioritises Energy Security and Strait of Hormuz Stability During Gulf Tour
Uncertainty Emerges Over Timeline and Direction of Saudi Arabia’s Ambitious Ski Resort Project
UAE and Saudi Arabia Escalate Strategy with Drone Operations Targeting Iran
Trump Delivers Characteristic Remarks on Saudi Crown Prince Amid Intensifying Iran Conflict
Drone Strike on US Embassy in Riyadh Caused Greater Damage Than First Reported
Saudi Arabia Introduces Flexible Solutions for Expired Visas Amid Regional Disruptions
Saudi Arabia’s Online Car Market Accelerates with AI Pricing and Fully Digital Buying Experience
Saudi Arabia Reassesses Defence Strategy as Iranian Drone Threat Drives Shift in Military Partnerships
Drone Strikes Target Saudi Arabia, Kuwait and Bahrain as Regional Conflict Intensifies
Japan and Saudi Arabia Align Efforts to Ease Rising Tensions with Iran
Saudi Crown Prince and Italy’s Meloni Strengthen Strategic Ties in High-Level Talks
SpaceX Explores Potential Five Billion Dollar Investment from Saudi Sovereign Wealth Fund Ahead of IPO
Saudi Arabia Lifts Key Import Barriers to Expand Access for U.S. Beef Exports
Saudi Arabia Enforces Strict Travel Penalties for Visits to Restricted Countries
Italy’s Meloni Embarks on Strategic Gulf Tour to Address Energy Security and Regional Stability
Saudi Film Festival Rescheduled to Summer as Regional Tensions Continue
Saudi Arabia Reports Forty Two Point Six Billion Dollars in Foreign Tourist Spending in 2025
Saudi Crown Prince and Russian President Hold Strategic Call on Escalating Regional Crisis
Saudi Arabia Advances Rail Network as Strategic Alternative to Strait of Hormuz Shipping Route
Ruanyun Edai Launches Saudi Arabia Hub With Forecast of Ten Percent Revenue Growth
Greek Defence Minister Visits Troops in Saudi Arabia Following Successful Missile Interception
Saudi Arabia Expands Global Strategy With Focus on African Critical Minerals
SpaceX Explores Potential Five Billion Dollar Investment From Saudi Fund Ahead of Possible IPO
US Central Command Dismisses Iranian Claim of Mass Casualties Among American Personnel in Saudi Arabia
Co-Diagnostics to Establish Molecular Diagnostics Facility in Saudi Arabia Through Joint Venture
Trump Engages Saudi Crown Prince in Talks on Potential Iran Ceasefire
Saudi Arabia’s Sadara Suspends Operations as Supply Chain Disruptions Intensify
Saudi Arabia Accelerates Energy Shift by Trading Oil Revenues for Battery Investments
Saudi Arabia Introduces Flexible Options for Expired Visas Amid Regional Disruptions
Online Narratives Surge as Iran–US Tensions Spill Into Digital Arena Following Trump Remarks
Saudi Arabia Urges Trump to Seize Strategic Moment as UAE Weighs Ground Deployment
Saudi Arabia Redirects Nearly One Million Barrels of Oil Daily Away from Strait of Hormuz
Saudi Arabia Carries Out Execution of Businessman Linked to 2011 Qatif Unrest
Ukraine–Saudi Defense Pact Signals Rising Demand for Battlefield Expertise
Saudi Arabia Balances Diplomacy and Defense Preparedness Amid Iran Conflict
Iran Conflict Reshapes Strategic Calculations in U.S.-Saudi Relations
Saudi Arabia Voices Caution as Trump’s Assertive War Strategy Reshapes Regional Dynamics
Saudi Arabia Updates Travel Advisory as Regional Conflict Intensifies
Saudi Arabia’s Sadara Suspends Petrochemical Production as Conflict Disrupts Operations
Iran Urges Saudi Arabia to Remove US Forces Amid Escalating Regional Tensions
Gulf Allies Urge Trump to Sustain Campaign Until Iran Is Fully Defeated
Saudi Arabia Unveils Strategic Rail Freight Corridors Connecting Gulf Ports to Jordan
Saudi Arabia Intercepts Drones and Ballistic Missiles in Major Defensive Operation
Houthi Escalation Opens New Front in Expanding Iran-Linked Conflict
Major Saudi Chemical Plant Halts Operations Amid Regional Conflict Disruptions
×