Norway still needs oil and gas

By Administrator on Aug 01 in Offshore Oil and Gas.

Norway’s dependence on oil and gas could be a hot topic in national elections.

Oil production in Norway is slowing, but the country does not intend to follow the calls of the International Energy Agency to force the phase-out of oil and gas for climate purposes, Norwegian Prime Minister Erna Solberg told the Financial Times, stressing that the country still needs oil and gas.

At the same time, she noted that the oil industry in Norway can become part of the “green transformation”, and natural gas can play a role in the “hydrogen future of Europe.” Meanwhile, Norway’s dependence on oil and gas could be a hot topic in the national elections scheduled for September 13.

“A big change is taking place, and it will happen anyway. The only question is how quickly it will happen. We are not going to speed it up politically, ”the Prime Minister summed up.

Earlier, the Norwegian government announced the creation of a Climate Investment Fund to help developing countries implement renewable energy projects. Over the next five years, Norway intends to invest NOK 10 billion (€ 976 million) in a fund that will invest in renewable energy in developing countries to help reduce air emissions in these countries. Solberg explained: “The Climate Investment Fund is a significant contribution to move closer to the implementation of the Paris Agreement on climate and the global sustainable development goals.”

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