Norway Supplies 25% Of All Natural Gas Imported By EU - Commission

MOSCOW (UrduPoint News / Sputnik - 27th October, 2022) Norway has become the largest supplier of natural gas to the European Union, accounting for 25% of the union's total imports, European Energy Commissioner Kadri Simson said on Thursday.

"Norway has become the most important natural gas supplier for the EU, representing 25% of all EU natural gas imports," Simson said at a press conference in Oslo.

Norway has been reaping record profits as gas prices soared amid the conflict in Ukraine.

Since 2021, energy prices in EU countries have been surging as part of a global trend.

After the beginning of Russia's military operation in Ukraine on February 24 and the adoption of several packages of sanctions against Moscow by the EU, energy prices have accelerated this growth, placing energy security high on both the global and national agendas, and pushing many European governments to resort to contingency measures. The EU has been looking for alternatives to Russian natural gas as it has pledged to end its dependence on energy supplies from Russia.