Norway okays $1.6 bn govt takeover of extensive gas pipeline network

Quick Summary:

Norway is Europe's largest gas supplier following a sharp fall in Russian deliveries triggered by Moscow's full-scale invasion of Ukraine in 2022.

The energy ministry agreed terms with Shell, CapeOmega, ConocoPhilipps, Equinor, Hav Energy, Orlen and Silex to take over their shares in the joint ventures, it said.

The government agreed to pay the seven owners 18.1 billion crowns ($1.64 billion) for their assets.

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Category: BusinessFinance

Markets: IndiaNorwayUkraine

Topics: Norway gas pipeline network Norway nationalisation project Norway gas export

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-12 @ 17:43:10 (23 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 417 words

Reading Time: 3 minutes read

Sentences: 19 lines

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Copyright Owner: © Business Standard

News ID: 23553352

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