Norwegian supply step-up not enough to replace missing Russian gas, PM says

OSLO, Jan 19 (Reuters) - Norway is delivering natural gas to Europe at maximum capacity, but this cannot replace any missing supplies from Russia, Norwegian Prime Minister Jonas Gahr Stoere said on Wednesday.

Norwegian companies have optimised their delivery potential to “the maximum capacity and a bit more” that will allow for a stable supply to Europe, Stoere said during a panel discussion while visiting Berlin. Russian pipeline gas flows to Europe have dropped off significantly over the past months, raising concerns over sufficient supplies and increased wholesale gas prices.

At the same time, Norway’s Equinor has increased its gas production, including reducing gas injections normally used to pump oil to sell more volumes.

Reporting by Nora Buli