Gas value chain Sample Clauses

Gas value chain. The petroleum sector is the largest industry in Norway. Petroleum activities have contributed significantly to the economic growth and also to the financing of the Norwegian welfare state. The productions of natural gas liquids and natural gas started in 1971 and made over NOK 7000 billion until now (Facts 2009). There were more than 60 fields in production on Norwegian continental until 2009. The financial crisis has a negative impact in the petroleum industry, especially on the oil prices in 2008. Consequently, the petroleum industry faces many challenges. The problem in the oil market situation is low oil price and high cost of production and transportation. As a result, it is difficult to invest in new oil projects and there might be less oil in the market in the future. However, gas export is expected to increase and to reach a level between NOK 115 to 140 billion scm (Facts 2009). The gas production maybe increased concerning on increasing gas demand. The number and size of new gas fields might also be a critical factor for the gas production.
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