Denmark now net importer of oil

Spread the love
Denmark will presently  have to get used to being a net oil importer according to  figures released by Denmark’s energy agency Energistyrelsen.

It said that  2017 was the last year when more oil was produced than was used on the Danish domestic front.

At least the gas scene looks a bit brighter – here, it is predicted that Denmark will be a net exporter until around 2035 except for a single year when the rigs in the Tyra field are renovated.

Denmark has been a net exporter of oil and gas since 1993, the last one in the EU for most of this decade.

The energy agency has scaled down future oil production by 8 per cent compared to last year’s forecast.

On top of that, it is expected that the utilisation of several fields and finds of oil and gas will be postponed, while the renovation of the Tyra rigs will mean a fall in production during 2020 and 2021.

As of January 2018, oil reserves and potential reserves were estimated at 139 million cubic metres – which is enough for 18 years’ consumption.

When it comes to gas, resources are estimated to be 72 billion normal cubic metres, which equates to 30 years’ gas supply.

Biola Lawal

Notify of
Inline Feedbacks
View all comments
Would love your thoughts, please comment.x