Faroese oil reserves can last six to eight weeks

The Faroes have an energy emergency plan, but it has not been updated since the peak of the Covid pandemic.

Due to the increasing instability in the energy market, the time has now come to update this plan, says energy minister Magnus Rasmussen.

The Danish energy ministry has increased the preparedness level for the Danish electricity and gas sector to the second-highest level in the wake of the explosions of the Nord Stream gas pipelines earlier this week.

New risk assessment

Rasmussen recently met with the oil companies and the Environment Agency to discuss the country’s energy situation.

“The oil companies appeared to be at ease about the situation as the energy supply to the country is secure,” he says.

“We have oil and petrol reserves to last us for about six to eight weeks. This is okay for now, but we will be making a new risk assessment in the coming days given the new situation.”

Read the Faroese version of this article here.

More Faroese News in English.