Fitting into a free gas market
Open trunkline systems for natural gas, free markets and free customer choice of energy suppliers create upheavals. There is reason to expect increased competition.
This is what chief executive Olav Fjell said at the eleventh European gas conference arranged by the Norwegian Petroleum Society in Oslo today, 15 May.
In his lecture, Statoil preparing for a liberalised European gas market, Mr Fjell summarised the current situation and challenges the group and the industry face.
He mentioned that Statoil has reached a production level of one million barrels of oil equivalent per day. The natural gas proportion will increase in the future, and the group’s international operations are becoming more and more significant. The demand for gas from international markets will increase.
According to Mr Fjell, the UK is one of several new growth areas for Statoil. “Calculations indicate that demand will increase. At the same time, British production is expected to decline from 2004/05. We have reserves close to the market, and we are well established in the market through our wholly-owned gas marketing subsidiary Alliance Gas,” he said.