Norway Monthly Gas Production Falls

Norway produced 349.3 million cubic meters (12.34 billion cubic feet) a day (MMcmd) of natural gas in March, down month-on-month and year-on-year, according to preliminary official figures published Tuesday.

Last month's gas output marks a 1.6 percent decrease from February 2026 and 0.8 percent from March 2025, the Norwegian Offshore Directorate (NOD) reported. The March 2026 figure also fell short of the NOD's projection by 0.5 percent.

March 2026 marks the second consecutive month that the Nordic country's gas production declined both sequentially and by prior-year comparison.

Norway sold 10.8 billion cubic meters (Bcm) of gas in March 2026, down 0.9 Bcm from the prior month.

Oil production last month averaged 1.94 million barrels per day (MMbpd), down 1 percent from February 2026 but up 10.6 percent from March 2025. The figure for March 2026 exceeded the NOD forecast by 9.1 percent.

Liquids production in March 2026 totaled 2.15 MMbpd, down 0.9 percent from the previous month but up 9 percent from the same period in 2025.

"The total petroleum production so far in 2026 is about 63.2 million Sm3 [standard cubic meters] oil equivalents (MSm3 o.e.), broken down as follows: about 28.0 MSm3 o.e. of oil, about 3.1 MSm3 o.e. of NGL [natural gas liquids] and condensate and about 32.1 MSm3 o.e. of gas for sale", the NOD said. "The total volume is 3.4 MSm3 o.e. more than 2025".

The Energy Ministry estimated that Norway's petroleum industry generated NOK 664 billion ($71.54 billion) in net cash flow last year. The figure was expected to drop to NOK 521 billion in 2026, the ministry said in an online statement October 15, 2025.

"The revenues in 2025 provide a basis for public spending of close to 20 billion NOK every year going forward", the ministry said.

Norway has been the European Union's top supplier of natural gas. According to the latest quarterly gas market report of the European Commission, the EU bought 22 Bcm of gas, or 30 percent of its gas imports, from Norway in the second quarter of 2025. Norwegian gas accounted for 54 percent of gas piped into the EU in April-June 2025, according to the report.

"The world and Europe will have a need for oil and gas for decades to come, and it is therefore crucial that Norway continues to develop the Norwegian continental shelf to persist as a stable and long-term supplier of energy", Energy Minister Terje Aasland said. "Therefore, the government wants to ensure stable and predictable regulatory framework, and a high level of exploration activity". 

The NOD expects Norway's production to be stable through the decade before declining due to natural depletion.

"Ongoing construction and development projects have the last few years contributed to a high level of activity and large investments on the continental shelf", the ministry added. "The investments in the petroleum industry are estimated to be approximately 272 billion NOK in 2025 in the national budget, which corresponds to 23 percent of the total investments in Norway.

"Over time, as the ongoing larger projects are completed, the investments are expected to decrease. It is especially expected decreased demand in the segments of the supply industry that are oriented towards standalone developments.

"To uphold the activity going forward, it is necessary with new investments sanctions. A stable level of the activity is important to ensure that the competence in the supply industry is maintained and enhanced".

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