8th
largest natural gas producer in the world
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This analysis includes a comprehensive Norway energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With 2019 market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.
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Highlights
8th
largest natural gas producer in the world
-2.5%
annual decrease in energy intensity since 2010
98%
of power production from renewables
Abstract
Institutions & Energy Policy
The Ministry of Petroleum and Energy (MPE) is responsible for energy policy and controls the oil and gas activities through three key departments - namely the Oil and Gas Department, the Climate, Industry and Technology Department, and the Energy and Water Resources Department - and three agencies: NPD, NVE and Enova (energy efficiency).
Energy Companies
Electricity:
About 270 companies are active in the electricity sector, most of which are state-owned; around 180 of those companies are involved in electricity production activities. This number is falling because of the mergers between distributors and small production companies. The federation of electricity companies, Energi Norge, brings together almost all the companies in the electricity sector.
Energy Supply
Gas:
Norway is the world's 8th largest natural gas producer and 4th largest exporter. The country's gas production more than doubled between 2000 and 2017, from 53 bcm to 128 bcm, but subsequently declined by 4%/year to 118 bcm in 2019.
Energy Prices
Electricity:
Electricity prices are around 45% below the EU average. They are driven by hydropower generation levels which, in turn, influence the electricity wholesale price on Nord Pool.
The tax on electricity was raised by 13% in 2016 to NOK 16/MWh (€2/MWh).
Graph: ELECTRICITY PRICES FOR INDUSTRY AND HOUSEHOLDS (€c/kWh)
Energy Consumption
Total energy consumption per capita is almost twice the EU average (5.1 toe), driven by an electricity consumption per capita that is four times the EU average and the highest in the world, at 23 250 kWh (2019).
Issues & Prospects
Gas:
The NPD anticipates that gas production should increase by 3%/year in 2020 and by 5%/year over 2019-2024.
Below is a list of the Norway energy market report graphs:
In the Norway energy market report you will find the following tables:
The Norway energy market data since 1990 and up to 2019 is included in the Excel file accompanying the Norway country report.
It showcases the historical evolution, allowing users to easily work with the data.
Key Data included in the excelsheet:
The Norway country report is complemented with a national power generation dashboard (excel file) from our Power Plant Tracker Service.
Data included in the excelsheet:
Projections Data (Excel Sheet)
The Norway country dashboards are complemented with country forecasts from EnerFuture (excel file) with scenario comparison.
Data included in the excelsheet:
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