Norway's Draft Budget Sees Gas Output Up in 2014, Prices Down

Gas buyers hope that new supply from the United States, Canada and places such as Mozambique will become available on the spot market, driving prices lower.

Prices for U.S. natural gas are currently around $3.80 per million British thermal units (mmBtu).

Gas prices are also expected to fall as Statoil, which handles about 80 percent of Norway's gas sales, moves further away from oil indexation in its gas supply contracts.

Statoil already sells about half of its gas at spot prices.

($1 = 5.9745 Norwegian krones)

(Reporting by Nerijus Adomaitis; editing by David Evans)


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