{
  "id": 3219001,
  "title": "Oljetopper bekymret etter gass-sjokk: – Begynner å bli alvorlig",
  "url": "https://urgent.news/2026/08/25/oljetopper-bekymret-etter-gass-sjokk-begynner-a-bli-alvorlig",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-25T07:46:07.000Z",
  "source": {
    "name": "E24 Norway",
    "slug": "e24-norway",
    "url": "https://e24.no/boers-og-finans/i/zOQPqw/oljetopper-bekymret-etter-gass-sjokk-begynner-aa-bli-alvorlig"
  },
  "original_language": "en",
  "account": "All are worried about gas prices, says Uniper CEO Michael Lewis to E24. The German energy company signed a large gas deal with Equinor on Monday, delivering 2.8 billion cubic meters of gas annually for 15 years until 2041. Lewis says the Hormuz Strait closure has taken out one-fifth of the world's liquefied natural gas (LNG) supply, with little gas from the Middle East reaching Asia and Europe. \"It is critical that we find a diplomatic solution here,\" he says. Lewis adds that the gas prices have doubled since the Hormuz Strait was closed. \"It is worrying for everyone, not just Europe, but for the whole world,\" he adds. Karl Johnny Hersvik, head of oil company Aker BP, says Europe's gas reserves are lower than usual due to the absence of LNG, mainly from Qatar. \"It's not as easy as it might seem, because demand has gone down by around 30% too,\" he says. \"But I must say that it is starting to become a serious situation, especially if there is a really cold winter in Europe.\" Energy chief Nick Walker says the Hormuz Strait and the war in Ukraine have had an effect on global disruptions, leading to higher prices for fuels, including gas and oil. \"I have long had a view that gas prices would be higher than expected. I didn't expect this level of disruption,\" he says. Walker notes that Europe is entering the autumn with significantly lower gas reserves than normal. According to a note from DNB Carnegie, Europe's gas reserves are now at 62%, compared to an average of around 82% in the period 2019-2025. Prices are at the highest level since January 2023. Aker BP's CFO Torbjørn Kjus says Europe needs to scramble to raise gas prices by competing with Asian countries to fill the tanks before winter. Kjus says the gas price in Europe, in dollars per barrel, is currently at $128, compared to around $16 per barrel in the United States. \"The natural gas market is already tight,\" he says. \"That's what we need.\" In Norway, water reservoirs have also dropped. So we get caught in a bad situation. Oil prices have also been squeezed by the Middle East war along with Ukrainian attacks on Russian refineries. Diesel price in dollars per barrel is now around $170-180, Kjus points out. He notes that the gap between oil prices and diesel prices is usually around $14 per barrel, but has jumped to $70-80 per barrel. \"It's a wild guess. I've never seen it before,\" he says. \"It will contribute to higher inflation and therefore higher interest rates.\" The market is extremely worried about interest rate expectations now, Kjus says.",
  "summary": "Gassprisen har steget kraftig og Europas lagre er lave. Med en kald vinter er det «anyone’s…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}