Global

How the energy crisis helps rich Norway become even wealthier

Europe's energy crisis and a spike in natural gas prices are proving to be a boon for Norway, delivering a flood of revenue for the country that's already one of the world's richest.

The Troll A natural gas platform, operated by Statoil, in the North Sea, Norway, in 2015. Foto: Bloomberg photo by Krister Soerboe.

Norway, with huge oil and gas fields, saw exports hit an all-time high for a third straight month in September, with natural gas sales jumping seven-fold from a year earlier. The bounty is the result of both a bounce in energy demand after pandemic restrictions were eased, coupled with a surge in prices.

The country, which accounts for 25% of European Union natural gas imports, is reaping the financial benefits of a crisis that's squeezed households and businesses across much of the region, forcing governments to promise aid to help with bills...

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