Lifting the veil of Norwegian natural gas: One year of 'conventional' gas sales

02/23/2004
The rapid implementation of a radically new natural gas transportation regime in Norway reflects a broader revolution getting under way in Europe's gas markets. Lessons learned in Norway over the past 21/2 years can readily be applied to help shape the emerging new pan-European gas regime that the industry needs.In May 2001, a "dawn raid" was conducted on the Norwegian oil and gas companies Statoil ASA and Norsk Hydro AS. In November of that year, the European Commission initiated proceedings1 against the GFU (Gas Negotiation Committee), "a Norwegian entity that negotiated natural gas sales and set prices, volumes, and other trading terms on behalf of 30 gas producers." On Aug. 8, 20...
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