Diminishing belief in Norwegian gas
«Its increasingly difficult to see the earning potential in the licenses we have now,» Reiten said, in connection with the presentation of Hydros 6 months results Monday. «Norway has to compete with an increasingly solvent European market.»
The company Naturkraft, owned by Hydro, Statoil and Statkraft, has the licenses to build gas power plants at Kårstø in Rogaland and Kollsnes in Hordaland.
Even if fewer and fewer people believe the gas power plants will become a reality, Reiten does not criticize the Norwegian authorities.
«I have nothing to comment on the regulations in the licenses,» Reiten said at the press conference Monday, according to the Norwegian news bureau (NTB).
Norsk Hydro is focusing more on developing gas resources in other countries. The company thinks the most interesting thing right now is the development of the gigantic Russian gas field Shtokman. The deposits here are allegedly twice the size of the Troll field.
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