Norway replaced Russia and has become the largest gas supplier to Europe - the media
The appropriate production in the Norwegian waters has played an important role in helping Europe in the ability to heat its homes and produce electricity from the beginning of the Russian invasion of Ukraine. Norway has already received a large amount of gas, transporting it to underwater pipelines to northern Europe, but the government also allowed additional production. Energy made adjustments that increased the receipt of gas.
The result was an 8 percent increase in the production of "blue fuel" last year, which made the state a source of flow of about one third of the gas consumed in Europe. The Scandinavian country has received significant financial rewards for the first to come to the aid of Europe. Just as energy companies, such as Shell and BP, last year received record profits, Petoro managed to earn about $ 50 billion in 2022.
This figure is almost three times more than in 2021, and Equinor announced a profit of $ 75 billion, which turned out to be record. In 2022, oil and gas revenues were able to bring $ 125 billion to the Norwegian treasury. From the rapid increase in the cost of electricity, the considerable volume of oil and gas production did not protect Norwegian consumers. Hydropower also did not reduce the price.
According to the journalists dependent in the past on the Russian Federation Germany, turned to Oslo with help. This happened after the invasion of Russian troops in Ukraine. Now Norway is the main supplier of these resources in Europe. The Scandinavian state also supplies a large amount of oil to its neighbors, replacing Russian oil, which has come under the embargo. In March, it became known how Gazprom's revenue decreased after the invasion of the Russian Federation into Ukraine.