All news

Oil, gas to be essential resources for decades — Equinor CEO

"We will produce oil and gas as long as there is demand for them. And now it has reached its peak," Anders Opedal said

BERLIN, January 13. /TASS/. The demand for oil and gas will remain high for decades, CEO of Norway’s Equinor Anders Opedal said in an interview with Der Spiegel magazine posted on Friday.

"Oil and gas will be indispensable for decades to come," Opedal said. "We will produce oil and gas as long as there is demand for them. And now it has reached its peak," the top manager said.

Europe is becoming increasingly dependent on external factors as regards energy, the Equinor CEO said. "You have lost flexibility. Now this [the energy shortage - TASS] should be offset by imports. Before the start of 2022, it [natural gas - TASS] was largely flowing through pipelines from Russia; now it comes more and more often from Norway and on LPG carriers from all over the world," Opedal noted. "This means prices will fluctuate. Europe will have to deal with that," he added.

Norway is one of the key energy providers for Europe. Equinor has become the top gas supplier to the EU after the significant decline in Gazprom’s supplies.