EU and Norway to increase gas trade due to reduced gas supplies from Russia

The European Union and Norway have agreed to intensify gas trade due to an early reduction in Russian gas supplies, the European Commission said in a statement following a meeting between EC Executive Vice President Frans Timmermans, Energy Commissioner Kadri Simson and Norwegian Oil and Energy Minister Terje Aasland, Voice of America reports.

“The parties agreed to further strengthen the close cooperation between the EU and Norway in the field of energy to deepen their long-term energy partnership. In particular, providing additional short-term and long-term supplies from Norway,” the message says.

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Norway is the largest producer of oil and gas in Europe and accounts for about a quarter of the EU's gas consumption.