Norway wants to nationalise ‘central parts’ of country’s gas pipelines
The Norwegian government wants to nationalise large parts of the country’s gas pipelines when existing concessions expire, according to reports.
The Norwegian Ministry of Petroleum and Energy has stated the nationalisation plans in a letter reported on Friday by news wires NTB and Reuters.
Norway’s gas pipelines are currently owned by Gassled, a company owned by several oil companies. The oil companies extracted natural gas when Gassled was established in 2003.
The Norwegian state currently owns 46.7 percent of Gassled and therefore already partially owns the country’s pipelines.
Current concessions to the oil companies are scheduled to expire in 2028, meaning contracts for transport of gas between the Norwegian government and Gassled will run out at this time.
“The Ministry of Petroleum and Energy has today sent a letter to the relevant rights holders where it is noted that the state plans to make use of the right of return ownership when the concessions expire,” the ministry wrote.
Norway has the right to take over ownership of the pipelines when the current concession contracts expire.
“The government desires a full state ownership over the central parts of the Norwegian gas transport system,” the ministry also wrote.
The government has yet to give a reason for its decision to take over ownership of the pipelines, or to comment on the matter to Reuters or NTB.
Norway is currently Europe’s largest supplier of gas, having taken over from Russia following sanctions placed on Moscow after the invasion of Ukraine.
There are around 9,000 kilometres of gas pipelines in Norway.
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The Norwegian Ministry of Petroleum and Energy has stated the nationalisation plans in a letter reported on Friday by news wires NTB and Reuters.
Norway’s gas pipelines are currently owned by Gassled, a company owned by several oil companies. The oil companies extracted natural gas when Gassled was established in 2003.
The Norwegian state currently owns 46.7 percent of Gassled and therefore already partially owns the country’s pipelines.
Current concessions to the oil companies are scheduled to expire in 2028, meaning contracts for transport of gas between the Norwegian government and Gassled will run out at this time.
“The Ministry of Petroleum and Energy has today sent a letter to the relevant rights holders where it is noted that the state plans to make use of the right of return ownership when the concessions expire,” the ministry wrote.
Norway has the right to take over ownership of the pipelines when the current concession contracts expire.
“The government desires a full state ownership over the central parts of the Norwegian gas transport system,” the ministry also wrote.
The government has yet to give a reason for its decision to take over ownership of the pipelines, or to comment on the matter to Reuters or NTB.
Norway is currently Europe’s largest supplier of gas, having taken over from Russia following sanctions placed on Moscow after the invasion of Ukraine.
There are around 9,000 kilometres of gas pipelines in Norway.
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