Norway's Government Ends Oil And Gas Strike

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Norway's government imposed a forced settlement in a dispute between striking offshore oil and gas workers and energy executives, according to reports on Tuesday.

The move has put a stop to the strike, also easing fears that further strikes could have significantly reduced the Scandinavian country's gas output and lead to shortages in Europe.

The Norwegian Labor Ministry moved to step in on Tuesday evening to halt the dispute, Norwegian broadcaster NRK reported.

The country's government can step in and stop strikes in extraordinary circumstances.


"Workers are going back to work as soon as possible," he told the news agency.


Equinor, Norway's largest gas producer and the second largest in Europe, initiated a safe shutdown of three oil fields due to the strike, the operator confirmed on Tuesday.

Another 117 employees were set to go on strike in three other oil fields on Wednesday if labor negotiations had not started.
Concerns about energy cuts

From Wednesday, the strike would result in a loss of oil production of 130,000 barrels per day and a loss of gas exports of 292,000 barrels of oil equivalent a day, the organization said.

Union leader Ingvartsen had said that he hoped talks with company leaders would resume soon, adding that the escalation was not designed to pressure the government to intervene and impose a settlement.

How important is oil and gas from Norway?

The EU obtained as much as 40% of its gas from Russia prior to the war. Global boycotts by EU nations of gas supplies from Moscow have led to gaps in the global gas market.

Russia also reduced gas deliveries via Nord Stream 1 to around 60% in recent weeks, citing a technical problem as the cause of the reduction.

Fears of increasing supply shortages drove gas prices in Europe to a four-month high on Tuesday.


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