NORWEP Export Statistics Q3 2025: Record Year for the Supplier Industry - Surpasses NOK 200 Billion

So far, 2025 has been marked by geopolitical unrest, announced tariff measures, and volatile energy prices. Nevertheless, forecasts from Norwegian Energy Partners (NORWEP) indicate that Norway’s supplier industry is heading for another record year, with expected exports of NOK 200 billion. This represents an 11 percent increase from the record year of 2024. The figures were prepared by Econ Management.
 

“It is very positive to see that the energy supplier industry continues to experience strong growth. It is also gratifying to note that Norwegian companies are succeeding in capturing shares of the rapidly growing international market for new energy technology,” says Ann-Christin Andersen, CEO of NORWEP.

NORWEP reports strong interest in delegation trips from Norwegian supplier companies with growing export ambitions, eager to meet potential foreign customers in the energy sector.

“With prospects of lower activity in the domestic market and increasing tariff uncertainty, Norwegian companies must think differently and broaden their efforts to reach more markets. We see this clearly as our recent delegation trips to Dubai, Korea, and Malaysia have been fully booked. These Norwegian companies truly deserve recognition for the effort they put into securing new contracts now,” Andersen adds.

One of the companies looking abroad is Bergen-based StormGeo, which uses AI technology to deliver weather forecasting services critical for safe and efficient operations in the energy sector.

“Norway has built its strength on technology, knowledge, and the ability to collaborate. The result is an industry that not only serves the domestic market but sets international standards. For us at StormGeo, this is both a privilege and a responsibility to carry this tradition forward. We aim not only to be part of the development but to drive it forward. Today, more than 80 percent of our revenue comes from international markets, and that makes us stronger, more adaptive, and better equipped in a constantly changing world,” says Espen Martinsen, Chief Commercial Officer at StormGeo.
 

Driven by Deepwater and Wind
 

Growth in oil and gas is largely due to high and stable demand for deliveries to deepwater projects, an area where Norwegian players have clear competitive advantages. These projects are relatively profitable, require long planning horizons, and are therefore less affected by short-term fluctuations in oil and gas prices.

In renewable energy, offshore wind is the main driver of demand. Although parts of the U.S. market have fallen away and European players have faced challenges with rising costs and squeezed prices in the offshore wind sector, exports have stabilized at a significantly higher level than just a few years ago. Of the total export value of NOK 200 billion, around 20 percent comes from offshore wind deliveries.

Andersen also believes that new energy technologies will play an increasingly important role going forward:
 

“For example, the market for carbon capture and storage is growing rapidly. Through Langskip, we have now demonstrated the technology and are ready to scale further. We are watching this industry closely,” she concludes.

Photo: OneSubsea