Between 2005 and 2015 GDP grew by an average of 1.3% p.a. when adjusted for inflation. Norway boosts some of the highest living standards in the world and has been enjoying economic growth since 2010. Although not a member of the European Union, it is a member of the European Free Trade Agreement (EFTA) along with Switzerland, Iceland and Liechtenstein. The country is home to extensive natural resources and the petroleum sector is a key element to the country’s prosperity (it is perhaps one of the few nations blessed with vast oil and gas reserves not to be severely adversely affected with “Dutch-disease”). In terms of global ranking, in comes third in natural gas exports and seventh in terms of oil. In 2011 one of its largest oil fields was found and the country is set to continue to enjoy a bright future ahead.
In terms of industrial gas companies, a number of the major international gas companies are active in the market. Linde is the biggest of these, accounting for almost 50%. Praxair is the next largest, responsible for almost 33% of all activity. Air Liquide and Air Products also have a presence, although their shares are relatively small, both at less than 5%.
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Report Data: 2015
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