Global Energy Outlook

According to preliminary data, the European power transmission system operator (TSO) TenneT transmitted to the Dutch and German grids over 29 TWh of electricity from offshore wind parks in the North Sea in 2022. More than 21 TWh were fed into the German grid, while about 8 TWh were transmitted to the Netherlands’ grid. In 2021, TenneT transmitted just above 20 TWh to the German grid and less than 5 TWh to the Dutch grid from offshore wind in the North Sea. However, the share of North Sea electricity for Germany in 2022 was around 17%, about one percentage point below 2021.

Oman’s average daily production of crude oil and condensates rose by around 10% to reach 1.1 mb/d in 2022, according to the country’s National Centre for Statistics and Information (NCSI). Indeed, Oman produced 388.4 mb of oil and condensate in 2022, including 309.5 mbl of oil in 2022 (+13%) and 78.9 mbl of condensate (-1%). Total oil exports increased by 11% to 319.5 mbl. Around 82% of Omani oil exports went to China (261 mbl, +8%) and 10% to India (31 mbl, +9%); exports to South Korea and Japan surged in 2022 (+93% to 13 mbl and +179% to 12 mbl, respectively).

The Norwegian natural gas transmission system operator (TSO) Gassco has exported a total of 117 bcm (approx. 1,286 TWh) of natural gas to Europe through pipelines in 2022, a 3.3% increase compared to 2021.

Amber Grid, the Lithuanian natural gas transmission system operator (TSO), has announced that gas consumption in Lithuania fell by 35% in 2022. Gas consumption decreased by more than a third due to high gas prices that reduced domestic fertilizer production and gas-fired power generation at Lithuanian power plants. A relatively warm winter and the decision to use mazut to heat the capital Vilnius can also explain the decrease in consumption.