Norway not ready to let go of oil, gas in push for hydrogen, offshore wind
Norway is betting on hydrogen and offshore wind for the energy transition but will also continue to extract oil and gas, the centre-right government said as it presented its long-term energy strategy on Friday.
Norway, Europe’s second largest oil and gas producer, will continue to offer regular licensing rounds, offering exploration acreage to energy firms, the government said.
“The main goal of the government’s petroleum policy – to facilitate profitable production in the oil and gas industry in a long term perspective – is firmly in place,” Minister of Petroleum and Energy Tina Bru told a news conference.
Norway will use hydroelectric power from land to cut emissions from its extensive offshore network of oil and gas platforms, but petroleum will not be the driving force of the economy that it once was, she added.
“We will facilitate a future-oriented Norwegian oil and gas industry capable of delivering production with low emissions within the framework of our climate policy,” Bru said.
Source: Reuters (Reporting by Nora Buli, Nerijus Adomaitis, Victoria Klesty and Terje Solsvik, editing by Gwladys Fouche)