The state wants to acquire full ownership over the central parts of the approximately 9,000 kilometer long Norwegian gas transmission system owned by Gassled. Although the government may have to compensate other shareholders, the technical operator of the infrastructure, Gassco, will remain in the new system.
Following the decline in Russian gas flows, Norway has become Europe’s largest gas supplier through a pipeline network owned by Gassled, which was established in 2003 by oil companies extracting natural gas off the coast of Norway. The Norwegian state already owns a 46.7% stake in Gassled through the state-owned company Petoro, while another 5% is owned by Equinor.
The department’s letter to the concessionaires indicates that it intends to exercise its right of repossession at the end of the license period, and that the Department of Energy will exercise full control over the key infrastructure.
Since the start of the Russian-Ukrainian war, Norway has taken over the first place in Europe’s pipeline gas supply.
Cover image: Getty Images.