The Norwegian Oil and Gas Association warned, on Tuesday, that a strike by workers in the sector may lead to a decline in Norwegian gas exports by more than half at the end of the week, knowing that it has so far led to the closure of three fields.
Since Russian gas shipments declined in the aftermath of the war in Ukraine, Norway has become the number one alternative for gas supplies to Europe.
“Norwegian exports represent a quarter of European energy, and Europe is completely dependent on Norwegian shipments at a time when Russian supply cuts have severely strained the market to secure gas,” the association said in a statement.
“The extension of the strike, which will come into effect on Saturday, will be harmful and dangerous for Europe and Norway,” she added.
She explained that about 60% of gas exports from the Norwegian continental shelf will be affected when the strike escalates from Saturday, adding that this will mean a loss in production of 341,000 barrels of oil.
“A strike of this size poses major problems for countries that depend entirely on gas storage before the fall and winter,” she added.
The rich Scandinavian country, which is the second largest supplier of natural gas to Europe, has been seeking in recent months to produce at full capacity to meet the huge needs expressed by Europeans to bypass Russian gas.
After wage negotiations failed, the powerful Norwegian Lidern union went on strike on Tuesday that ground national giant Equinor from operating three offshore fields (Gudrun, Oseberg East and Oseberg South) with an impact currently limited to 1% of gas exports.
In the event of an escalation of the strike, four additional fields will be suspended on Wednesday; The volume of frozen exports increased to 13%.
On Saturday, the shutdown of major Gullfaks A, C and Sleipner fields would compound the consequences of the strike, by cutting 56 percent of exports, according to the Norwegian Oil and Gas Association.