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Norway Approves Gas Production Hike to Keep Exports at a Record

  • Move comes as Europe seeks extra gas to replace Russian flows
  • Prices for the fuel in Europe have surged to a four-month high

Norway approved higher production from key natural-gas fields in an effort to maintain record exports as Europe reels from cuts in Russian supply.

The energy ministry said Monday it had agreed on revisions to permits for the Troll, Gina Krog, Duva, Oseberg, Asgard and Mikkel fields. The move will allow Norway to keep output at full tilt into next year, helping to replace Russian flows that have slumped amid the war in Ukraine and sanctions on Moscow.