Policy Areas

Minister meets Parliementary Committee for talks on energy in the High North

Security of energy supply and the development of oil and gas in the High North were common issues of interest when the Minister of Petroleum and Energy, Thorhild Widvey, met with the Parliamentary Committee of Industry, Research and Energy (ITRE) on 15 June.

17/06/2005 :: “Security of the supply of oil and gas is an important issue for us, as Norway is a stable and reliable supplier of oil and gas to the EU,” Minister Thorhild Widvey said at a press briefing following her meeting with the ITRE Committee in Brussels.

Norway holds about 50 per cent of the remaining oil and gas resources in Western Europe, and 14 per cent of all the gas consumed in Europe today is produced on the Norwegian Continental Shelf.

“Norwegian gas production is further expected to increase from 78 BCM to about 120 BCM in the next ten years, of which large quantities will continue to benefit EU Member States,” Minister Widvey added.  

With an estimated 25 per cent of the world’s remaining petroleum resources located in the Barents Sea and the Arctic, these areas hold vast potential for the further development of oil and gas.

In this connection Widvey informed that it was essential for Norway to establish a common sustainable energy agenda with relevant actors such as the EU and Russia.

“It is important that we establish a common approach to the challenges that arise from the development of oil and gas. Sustainable development must be the basis for exploitation,” Minister Widvey stressed, adding that a continued dynamic dialogue on energy issues with the EU is central to reach these goals.

 

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Minister of Petroleum and Energy, Thorhild Widvey, stressed the importance of developing a common stance with the EU on sustainable development of petroleum resources.Photo: Anne Grethe Nilsen, EU-del.