Norway is betting on hydrogen and offshore wind for the energy transition, but will also continue to extract oil and gas, the center-right government said on Friday when presenting its long-term energy strategy.
Norway, Europe’s second-largest oil and gas producer, will continue to offer regular license cycles, offering exploration permits to energy companies, the government said.
“The main objective of the government’s oil policy – to facilitate profitable production in the oil and gas industry from a long-term perspective – is firmly in place,” Oil and Energy Minister Tina Bru said at the time. of a press conference.
Norway will use onshore hydroelectric power to reduce emissions from its vast offshore network of oil and gas platforms, but oil will no longer be the engine of the economy it once was, she added.
“We will facilitate a forward looking Norwegian oil and gas industry capable of delivering low emission production as part of our climate policy,” said Bru.
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